Mexico: Inflation climbs in January
Consumer prices rose 0.86% over the previous month in January, above the 0.38% rise logged in December 2020. Looking at the details of the release, January’s pick-up was largely driven by faster price growth for housing and transport, and a rebound in food prices.
Inflation edged up from 3.2% in December, which had marked the lowest reading in seven months, to 3.5% in January—remaining within Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation held steady at 3.4% for the third consecutive month in January. Lastly, core inflation came in at 3.8%, matching December’s reading.