Wednesday, May 18, 2022

Mexico inflation seen on the rise again in February: Reuters poll By Reuters

-


© Reuters. Customers walk past a fruit stall at a street market, in Mexico City, Mexico December 17, 2021. REUTERS/Luis Cortes

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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

FOLLOW US

0FansLike
3,312FollowersFollow
0SubscribersSubscribe
spot_img

Related Stories