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Mexico's commercial bank lending to households cools in November

Mexican commercial bank lending to households recorded its lowest growth in seven years in November, which was 1.8% year over year, according to figures in the newest credit report from central bank Banco de México, or Banxico, published Dec. 29.

As El Financiero reported, this is the lowest increase recorded since October 2010, pointing toward a real income deterioration among workers due to the surge of inflation and interest rates hikes.

"The current credit to consumption showed an increase of 1.5% real annual, while the current credit for housing increased by 2.2% real annual," the central bank said.