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By THE PULSE NEWS MEXICO STAFF

According to the National Institute of Statistics and Geography (Inegi), inflation in Mexico hit 7.45 percent in March, its highest level in 21 years.

The annual inflation rate for the third month of the year was higher than the 7.28 percent reported in February, and exceeded the 7.38 percent forecast by the Bank of Mexico (Banxico).

The Inegi said that the inflation was blamed mainly on higher fuel costs, as well as increases in the price of air transportation, eggs and corn tortillas.