LatinNews Daily - 10 March 2022

In brief: Mexico’s inflation shows little sign of slowing

* Mexico’s national statistics institute (Inegi) has released its latest figures on the national consumer price index (INPC) which show that monthly inflation rose 0.83% in February 2022. This brings the annual rate to 7.28%, up from 7.07% in January, and far above the 3% +/-1 inflation target range that Mexico’s central bank (Banxico) set for 2022. In the same month in 2021, monthly inflation was 0.63% and the annual inflation rate stood at 3.76%. Banxico’s deputy governor, Jonathan Heath, tweeted that inflation was likely to be higher again in March, adding that the conflict in Ukraine would mean high inflation would be “more persistent than we had anticipated”, both in Mexico and globally.

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