LatinNews Daily - 10 February 2022

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In brief: Inflation remains high in Mexico

* Mexico’s national statistics institute (Inegi) has released its latest figures on the national consumer price index (INPC) which show that monthly inflation rose 0.59% in January 2022. This brings the annual rate to 7.07%, the lowest rate recorded since the first two weeks of November, when annual inflation stood at 7.05%, but still far above Banxico's 3% +/-1 inflation target range for 2022. In the same period of 2021, monthly inflation was 0.86% and the annual inflation rate stood at 3.54%. Mexico’s central bank (Banxico) will meet today (10 January) and decide whether to increase its benchmark interest rate for a sixth consecutive time in a bid to rein in inflation.

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