Mexico’s annual inflation shot past forecasts in the first half of April, likely cementing a rate hold at the central bank’s May monetary policy meeting. Official data released Wednesday showed consumer prices rose 4.63% from a year before, above all estimates in a Bloomberg survey that had a 4.51% median forecast. Core inflation, which excludes volatile items like food and fuel, slowed to 4.39%. Stubborn price pressures have made it more difficult for analysts to predict whether policymakers’ March interest rate reduction was the beginning of continuous easing. Strong hiring and heavy government spending ahead of ... (full story)