Mexican inflation ticks upward, consumer confidence remains at low level

The Mexican National Institute of Statistics and Geography (INEGI) on 9 November 2016 reported a 0.61 percent increase in inflation during October 2016 (Noticias MVS). The increase brings inter-annual inflation to 3.06 percent through the end of October 2016, below analysts’ estimates of 3.10 percent. The October 2016 inflation rate of 3.06 percent is the highest since March 2015, when the Consumer Price Index (CPI) registered 3.14 percent. According to the INEGI, prices increased as a result of rising energy costs and government tariffs (Noticias MVS). The INEGI also reported on 7 November that the Consumer Confidence Index (CCI) rose just 0.9 percent in October 2016 after three consecutive monthly drops. After adding the October 2016 figures, the CCI shows an annual decline of 7 percent (Proceso).