Inflation in Mexico at highest point in 7 years

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MEXICO CITY -- Mexico's inflation has reached its highest level in seven years, hitting an annual rate of 5.8 percent in October, the central bank reported Friday.

The bank said its National Consumer Price Index rose 0.31 percent from September, when inflation was at 5.5 percent.

The bank said that the services sector was hit by a hike in cement prices, which affected the housing market. Prices also are higher for tourism packages, electricity, low-octane gasoline and some food, including onions, melons and chicken.