Economy & Business - February 2023

MEXICO | Inflation and interest rates on the up. On 9 February, Mexico’s national statistics institute (Inegi) released figures showing that headline inflation rose 0.68% in January in monthly terms, bringing annual inflation to 7.91%. Core inflation increased by 0.71% in monthly terms and stood at 8.45% in annual terms. Both headline and core inflation were above levels recorded at end of last year. This came the same day as the central bank (Banxico) raised interest rates from 10.5% to 11%, citing “the dynamics of core inflation”.

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