*Mexico’s national statistics institute (Inegi) has released consumer price index figures for February, which put monthly inflation at 0.09% and the annual rate at 4.40%. This is down from an annual rate of 4.88% in January, when the monthly rate stood at 0.89%. Core inflation – which excludes items with highly volatile prices – stood at 4.64% in annual terms, down from 4.76% the previous month. The drop in annual inflation follows increases in the annual rate in January, December, and November, which reversed nine consecutive months of downwards trend in 2023. Annual inflation remains above the central bank (Banxico)’s target range of 3% +/- 1%. In its report, Inegi noted a 4.60% decrease in the prices of agricultural products, while prices of energy and tariffs authorised by the government rose 2.12%.
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