Inflation in Mexico Hits 7.28 Percent in February
By THE PULSE NEWS MEXICO STAFF
Mexico’s National Consumer Price Index (INPC) registered 7.28 percent at the annual rate in February, its first rise after two consecutive months with declines, the National Institute of Statistics and Geography (Inegi) reported on Wednesday, March 9.
This was the INPC’s highest level since 2000, when it was placed at 10.52 percent.
The February INPC was slightly above market forecasts, which estimated a variation of 7.23 percent at the annual rate.
Inflation has consistently broken the target range set by the Central Bank of Mexico for more than a year.
The surge in inflation has been linked to higher fuel and food costs, as well as the rising costs of imported goods, the Inegi said.