Mexico’s inflation rate fell

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Published on: Thursday, March 7, 2024 – 10:51 PM | Last updated: Thursday, March 7, 2024 – 10:51 PM

Inflation fell in Mexico for the first time since last October, raising the possibility that the central bank will begin a cycle of cutting interest rates later this month.

The Mexican Statistical Institute said that the consumer price index rose last February by 4.4% annually, compared to 4.88% last January, slightly less than the average expectations of analysts surveyed by Bloomberg News, which was 4.42%.

At the same time, the core inflation rate, which excludes more volatile commodities such as food and energy, fell last month to 4.64% annually, while expectations were 4.63%.

Bloomberg said that the Monetary Policy Committee, headed by Central Bank Governor Victoria Rodriguez, is following inflation data before making its decision on the possibility of starting to ease monetary policy in the second largest economy in Latin America during its meeting scheduled for March 21. Most analysts expect interest rates to be reduced at the next meeting by a quarter of a percentage point.

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