Mexican Inflation Slowed Modestly in October

The new CPI data may not keep Bank of Mexico from raising interest rates

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MEXICO CITY—Mexico’s consumer-price inflation eased slightly in October as a drop in agricultural prices partially offset higher energy costs, but left the annual rate well above the central bank’s 3% target.

The consumer price index rose 0.52% last month, pushing annual inflation down to 4.9% from 5.02% in September, the National Statistics Institute said Thursday.

Core...