Inflation in Mexico stands at 7.22% during the first half of February, accelerates more than expected

The year-on-year inflation The rate of Mexico accelerated in the first half of February above what was expected by the market, reinforcing expectations that the central bank will continue to raise its rate following the key steps of the US Federal Reserve (Fed).

The National Consumer Price Index (INPC) stood at 7.22%, after cooling slightly for four consecutive fortnights, according to figures released on Thursday by the statistics institute. Analysts projected that it would grow to 7.17% from 7.01% in the second half of January.

For its part, core inflation, considered a better parameter to measure the trajectory of prices because it eliminates high volatility products, registered a variation of 6.52%, its highest level since July 2001, also exceeding expectations.

Banco de México, which has a permanent inflation target of 3% +/- one percentage point, raised the reference interbank rate by 50 basis points in early February, for its sixth consecutive increase, citing a longer duration and magnitude of inflationary pressures.

His next monetary policy decision is scheduled for March 24, a week after the Fed meeting when the market expects the US central bank to start raising interest rates after a long time near zero.

Only in the first 15 days of February, the prices increased by 0.42%, while the core index showed a rate of 0.43 percent.

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