Mexico's Inflation Rate 4.5 Percent In October

MEXICO CITY (AP) — Mexico recorded an annual inflation rate of 4.5 percent in October, which was the sixth consecutive month showing a slowing in the pace of price rises, the central bank said Monday.

The Bank of Mexico said October's rate was 0.39 percentage point lower than September's annualized rate, but was still far ahead of the bank's goal of 3 percent for this year.

The central bank has been striving to keep inflation in check in hopes of stimulating the economy, which slumped 9.2 percent in the first quarter as demand for Mexican goods fell because of the recession in the United States.