Mexico: Inflation ticks up in December
Consumer prices rose 0.70% from a month earlier in December, cooling somewhat from their 0.85% month-on-month increase in November. According to the National Statistics Institute (INEGI), lower fuel costs helped offset a jump in food prices. Core consumer prices—which exclude volatile categories such as fresh produce and energy—increased 0.47% month-on-month in December, nearly twice as fast as November’s 0.25% uptick.
Inflation notched up to 4.8% in December (November: 4.7%). Moreover, core inflation edged up to 3.7% from 3.6% a month earlier. All told, annual average inflation ended the year at 4.9%.