Mexico inflation seen on the rise again in February: Reuters poll
Reuters
Published Mar 04, 2022 04:48PM ET
MEXICO CITY (Reuters) - Mexico's year-on-year inflation likely accelerated in February after cooling slightly over the previous two months, a Reuters poll showed Friday, reinforcing expectations that the central bank will continue to raise its key interest rate.
The consensus forecast of 11 analysts surveyed was for inflation to grow to 7.23% from 7.07% in January. If the prediction is correct, it would be the first increase since November, when inflation hit a 20-year high.
The core rate of inflation, which strips out some volatile food and energy items, was seen accelerating to 6.58%, which would be the highest rate since June 2001.
The Bank of Mexico targets inflation of 3%, with a one percentage point tolerance range above and below that. In February the bank raised its benchmark interest rate by 50 basis points, a sixth consecutive rise, citing inflation.
The central bank's next monetary policy decision is scheduled for March 24, a week after the United States' Federal Reserve is expected to hike percentages after years of near-zero rates.
Just in February, Mexican consumer prices are estimated to have increased by 0.78% with the core price index seen advancing 0.74%.
Mexico's national statistics agency will publish the latest inflation data on Wednesday.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.