Mexico's interannual inflation falls to 7.6% in February
America Economia | March 09, 2023 |

The National Consumer Price Index (INPC) of Mexico fell three tenths in January compared to the previous month, to stand at 7.62% year-on-year, as reported on Thursday by the National Institute of Statistics and Geography (Inegi) of Mexico.

In turn, core inflation has also fallen in the last month, although it remains above the general index, at 8.2% year-on-year, two tenths less than in January.

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The monthly increase of the underlying has been 0.61%, barely one tenth less than the previous month, while it was 0.56% for the general index, a fall of more than one tenth compared to the 0.68% of January.

It is necessary to go back a year, to the month of February 2022, to find such a low year-on-year figure. Specifically, inflation stood at 7.3% in said month. At the same time, it should be noted that prices have not fallen by 7% since October 2021.

By divisions, the greatest year-on-year increases occurred again among food and non-alcoholic beverages (13.7%, three tenths less than in January), merchandise (10.65%, three points more) and other services (7.5 %, the same as the previous month).

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In monthly terms, only two groups experienced falls in February. The central bank of Mexico opted last month for an increase in rates of 50 points, up to a figure of 11% after learning the unexpected figure for the month of January, higher than expected. The agency plans a new monetary policy meeting at the end of March.

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