The Mexican Stock Exchange (BMV) fell slightly on Wednesday in a cautious climate that has its sights set on the consequences that Tuesday’s US inflation data, above expectations, could have on decisions on monetary policy.
the leading index S&P/BMV IPCwhich groups the 35 most traded shares on the market, fell 0.09% to 46,997.94 points, shortly after the start of the session.
For its part, Wall Street opened higher in a technical rebound after the drop caused by inflation data in the previous session. In the first operations the index dow jones gained 0.08%, the Nasdaq was up 0.20%, and the S&P 500 was up 0.19 percent.
Producer prices in the United States fell for the second consecutive month in August as the cost of energy continued to fall, according to data released on Wednesday.
The producer price index for final demand dipped 0.1% last month, after falling 0.4% in July, the Labor Department said. In the 12 months to August, the PPI rose 8.7% after rising 9.8% in July.
On Tuesday, the government reported a surprise rise in monthly consumer prices in August, as well as an acceleration in core inflation, cementing expectations of a third interest rate hike of 75 basis points by the the Federal Reserve next Wednesday.
Excluding the volatile components of food, energy and commercial services, producer prices increased 0.2% in August. The so-called core PPI had risen 0.1% in July. In the 12 months to August, the core PPI advanced 5.6%, after rising 5.8% in July.
