Mexico Inflation Edges Above Forecast Ahead of Rate Meeting (1)

Mexico’s inflation accelerated more than expected in April while remaining within the central bank’s target range, likely keeping a half-point interest rate cut next week on the table.

Annual inflation hit 3.93%, above the 3.9% median estimate of economists surveyed by Bloomberg and up from March’s 3.8% print. The core reading, which excludes volatile items such as food and fuel, increased to 3.93% from 3.64% a month earlier.

The central bank, known as Banxico, targets inflation at 3%, plus or minus 1 percentage point. It has been cutting interest rates and its next decision is scheduled for ...