Mexico Inflation Rate Down to Fresh Record Low
Consumer prices in Mexico increased 2.13 percent year-on-year in December of 2015, slowing from a 2.21 percent rise in the previous month and the lowest inflation rate on record. The central bank of Mexico said it expected the inflation to end the year around 2 percent, before rising to near the bank's 3 percent target in 2016.
1/7/2016 2:22:17 PM
The inflation rate has been below the central bank’s target since May due to sluggish growth and lower telecom and housing related prices and despite a nearly 16 percent depreciation of the peso against the USD in 2015.
The biggest annual rise was recorded for education (4.29 percent), followed by restaurants and hotels (4.21 percent), health (4.13 percent), furniture (3.25 percent), alcohol and tobacco (3.02 percent), clothing and footwear (2.89 percent). Transport prices rose 2.44 percent, food grew 2.12 percent and housing and utilities cost went up 1.23 percent.
On a monthly basis, consumer prices went up 0.41 percent, lower than 0.55 percent in November.
The core index increased 0.31 percent on the month and increased 2.41 percent on an annual basis.