Annual inflation at 21-year high

Core inflation increased 6.78% in the year through March

MEXICO CITY:

Mexican consumer prices rose in March to levels not seen since early 2001, with economists saying the data suggests more interest rate hikes are likely, as the central bank underscored the balance of risks for inflation deteriorated again.

Consumer price inflation rose 7.45% in the year through March, way more than the central bank’s target of 3%, with a one-percentage-point tolerance range above and below that, the government’s INEGI statistics agency said on Thursday.

It was also above the median forecast of analysts surveyed by Reuters, who projected inflation would rise to 7.36% in March, versus 7.28% in February.

For its part, core inflation, which strips out some volatile food and energy items, increased 6.78% in the year through March, a level not hit since April 2001.

Published in The Express Tribune, April 8^th, 2022.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.