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Consumer prices in Mexico were higher in 2022 than the average registered throughout the rest of  the region, according to the Economic Commission for Latin America and the Caribbean (Cepal).

According to a report released by the Cepal at the start of January, in Mexico, prices rose 8.4 percent last year, while in the rest of the region, they increased on average 6.8 percent.

Panama registered the lowest increase in consumer prices at just 1.7 percent, followed by Bolivia at 2.9 percent.

By contrast, Argentina was the Latin American nation with the largest increase, at 87.8 percent in as of October 2022, according to the report.

Other countries that also exceeded the regional average for consumer prices were Chile, at 12.8 percent inflation, and Colombia, at 12.2 percent.

A set of economic factors and the dynamics of both energy and food prices, which in many countries in the region are imported goods, have played a relevant role in the evolution of the general consumer price index, warned the report.

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