LatinNews Daily - 10 May 2022

In brief: Mexico’s inflation continues to soar

* Mexico’s national statistics institute (Inegi) has released its latest figures on the national consumer price index (INPC) which show that monthly inflation rose 0.54% in April 2022, bringing the annual rate to 7.68%. This is up from 7.07% in January, 7.28% in February, and 7.45% in March as inflation remains well above the 3% +/- 1 target range that Mexico’s central bank (Banxico) set for 2022. Last week President Andrés Manuel López Obrador announced a plan to address the impact of rising inflation which is based on increasing production and lowering import and distribution costs, rather than implementing price controls as the private sector had feared.

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