Mexico ends 2020 with 3.15 pct inflation


MEXICO CITY, Jan. 7 (Xinhua) -- Mexico registered an annual inflation rate of 3.15 percent in December, driven lower by a drop in the price of some produce in the last month of the year, the National Institute of Statistics and Geography (Inegi) reported Thursday.

The National Consumer Price Index (INPC) increased 0.38 percent in December compared to the previous month, its lowest level for the month in eight years, according to Inegi records.

"In the same period of 2019, the figures were 0.56 percent per month and 2.83 percent annually," the autonomous statistics agency said in a statement.

The Bank of Mexico (Banxico) has an inflation target of 3 percent, with one percentage point margin of flexibility above or below that figure.

Core inflation, used to determine Banxico's monetary policy decisions, registered 3.8 percent annually and 0.55 percent in December, according to Inegi.

The price of onion fell 25.35 percent in the 12th month compared to the previous month, followed by tomato (13.10 percent) and papaya (15.83 percent), all among items that weigh heavily on the INPC.

Banxico estimates inflation could accelerate to 4.3 percent in the second quarter of 2021, but fall to 3.3 percent by the end of the year, according to the quarterly projections issued on Nov. 25, 2020.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

Russian navy practises striking Black Sea targets as Ukraine, U.S. hold drills
Australia disputes French version of submarine letter
NGOs bring case against French customs over weapons exports
Norway's election winners meet in bid to form majority government
German conservatives raise spectre of far-left rule ahead of election
U.S. court compels Facebook to release records of anti-Rohingya content - report
Japan pub-chain leader urges new PM to help eateries hit by COVID-19
New Zealand's Ardern says lockdowns can end with high vaccine uptake
Australia says will be patient on rebuilding ties with France
Melbourne braces for anti-lockdown protests as daily cases hit pandemic high

Stories You'll Enjoy


Vouchers