PUERTO VALLARTA (PVDN) - The latest data from the National Institute of Statistics and Geography (INEGI) showed on Wednesday that Mexico's annual inflation rate slowed for the sixth consecutive month in July to 4.79%, marking a continued downward trend due to a prolonged cycle of interest rate hikes.
The headline inflation figure came in at exactly what market forecasters predicted at 4.79%, the lowest in more than two years. It's a dramatic improvement from last year's record high of 8.7%.
Consumer prices in Mexico rose by 0.48% in July . . .
