AMLO says that Mexico Central Bank will control inflation

Mexican President Andres Manuel Lopez Obrador said on Wednesday he was confident the country’s central bank will act to control inflation as the economy recovers from the COVID-19 pandemic.

Mexican annual inflation accelerated slightly faster than expected in April to 6.08%, its highest level since December 2017.

Mexico’s Resilient Inflation

• Current rate: 4%
• Time of decision: 2 p.m. ET

The door for additional rate cuts remains closed in Mexico as rising fuel and food costs catapulted annual inflation to 6.1% in April, more than double the 3% target.

(Reporting by Dave Graham; Writing by Drazen Jorgic for REUTERS)

Source: REUTERS