Photo: Shutterstock

By THE PULSE NEWS MEXICO STAFF

Mexico now ranks in fifth place worldwide in terms of inflation, surpassed only by Argentina, Turkey, Brazil and Russia, in that order.

Mexico’s inflation rate is expected to top 8 percent by the end of 2021.

According to a Trading Economics report released this week, Argentina had the highest price increases this year, with a year-on-year rate of 52.1 percent in November, followed by Turkey, with an annual surge of 21.3 percent.

Brazil, meanwhile, saw a jump of 10.7 percent, placing it as the country with the third-highest price increase as of November.

Russia registered an annual increase of 8.4 percent, ranking fourth, just a cut above Mexico.

In the United States, Mexico’s main trading partner, year-on-year inflation was 6.8 percent, placing it in sixth place.