Mexico ends year with inflation at 7.36%, most in 20 years
Headline:
3 committees formed to advise recruitment, transfers of senior officials
40 dengue cases reported in 24hrs
Travel ban imposed on ex-railway minister Mujibul Haque
Textbook distribution to be completed by Feb: Press Secretary 

Mexico ends year with inflation at 7.36%, most in 20 years

Mexico ends year with inflation at 7.36%, most in 20 years
FILE - Vendors wait for clients at the La Nueva Viga seafood market, part of the Central de Abastos, the capital's main market, in Mexico City, Dec. 9, 2020. Mexico closed 2021 with inflation of 7.36%, the highest rate in two decades, fueling concern among analysts that the rate of price growth will continue in the coming months, which could put pressure on the Bank of Mexico to make further adjustments in interest rates. (AP Photo/Rebecca Blackwell, File)


Mexico ended 2021 with an annualized inflation rate of 7.36%, the highest in 20 years, the national statistics institute said Friday.

Inflation in December continued at about the same rate as in November, and was led by fresh food products, air travel and other rising costs.

READ: Crews rescue 21 people on stuck tram cars in New Mexico

The institute said inflation was last that high in 2001.

Mexico’s central bank faces pressure to increase interest rates, without constraining economic growth. The country’s interbank interest rate is around 5.50%, and the target inflation rate of 3% seems a very distant goal.

READ: 53 die in horror crash of truck smuggling migrants in Mexico

Some analysts see inflation continuing high through the first quarter of 2022.

Subscribe UNB YouTube Channel