Annual Inflation in Mexico Soars to Highest in Almost 7 Years in February Alexandra Alper - Reuters
go to original March 9, 2017

The Mexican peso has been on a tear vs. the US dollar (Getty Images)

Mexico's annual inflation hit its fastest pace in nearly seven years in February after the government raised energy prices, data showed on Thursday in another sign that the central bank could again increase interest rates.

Inflation in the 12 months through February rose to 4.86 percent, its highest since March 2010, the national statistics agency said. That compared with 4.72 percent in January and expectations of 4.82 percent from economists in a Reuters poll.

Mexico's government raised gasoline prices in January, prompting protests and looting across the country and pushing inflation above the central bank's 4 percent tolerance ceiling that month.

The central bank has hiked rates to an eight-year high to combat the inflation jump and shore up a weak peso hit by fears of what U.S. President Donald Trump's policies could mean for Latin America's second-largest economy.

Some analysts predict further rate increases.

Read the rest at Reuters

Related: Mexico Sales Records Fall in February (WardsAuto)

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