Peso Plummets Following CPI Announcement
• Peso Falls as Month-on-Month CPI Increases
• Peso Looks Past Year-on-Year Figures
The Peso plummeted as consumer price inflation increased to .81 percent month-on-month, barely coming in under leading analysts’ expectations of .82 percent month-on-month, and significantly up from .55 percent month-on-month last month. Year-on-year consumer price inflation met leading analysts’ expectations of 4.17 percent year-on year, down from 4.30 percent year-on-year in the preceding month according to Mexico’s National Institute of Statistics and Geography. As these statistics crossed the wire, the peso opened at 14.36183 USD/MXN but, dropped significantly to 14.38636 USD/MXN by 9:15 AM EST.
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