world-economy

Mexico's Inflation Drops Sharply, Validates Central Bank Rate Cuts

Mexico's inflation fell significantly below expectations in May, moving back within the central bank's target range and validating policymakers' recent decision to lower interest rates. The sharper-than-forecast decline suggests the monetary authority's easing cycle remains on track. Meanwhile, global air cargo spot rates continued climbing in May, rising 41% year-over-year after hitting three-year highs the previous month, though analysts anticipate moderation ahead. In separate central bank action, Indonesia surprised markets with an aggressive rate hike to combat currency pressures and foreign outflows.