(VOVWORLD) -Argentina's monthly inflation was 7.4% in July versus a month earlier, the government's INDEC statistics agency said on Thursday, above analysts' forecasts for a 7.2% increase in consumer prices. Customers shop at a supermarket in Rio de Janeiro, Brazil. (Photo: AFP/VNA) Inflation in the 12 months through July hit 71%, as the South American country battles surging consumer prices. Mexico's central bank has raised its interbank interest rate by 0.75% to 8.5% Thursday — the highest level in the 16 years since comparable bank policies went into effect.

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