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LatinNews Daily - 10 May 2021

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In brief: Mexico’s inflation climbs to its highest rate since 2017

* Mexico’s national statistics institute (Inegi) has reported that the national annual inflation rate reached 6.08% in April, the highest rate in the country since the end of 2017. April saw a month-on-month increase of 0.33%, the biggest monthly increase seen since 2009, making this the fourth consecutive month of increasing inflation. Inflation data for the same month last year showed a decrease of 1.1%, at the start of the coronavirus (Covid-19) pandemic. The headline inflation figures were driven by a 2.61% increase in the price of agricultural products compared to the previous month, while energy tariffs set by the government fell by 1.49%. Core inflation increased by 0.37% month-on-month and by 4.13% year-on-year, with goods increasing by 0.44% monthly and 5.59% annually; and services increasing by 0.28% and 2.53% respectively.