Core inflation, considered a better parameter to measure price trends because it eliminates highly volatile products, registered a variation of 6.59%, its highest level since June 2001.
“The war in Ukraine will put further upward pressure on prices in Mexico,” said Nikhil Sanghani, emerging markets economist at Capital Economics. “In this context, there is a growing possibility that Banco de México will increase the rate of adjustment at its meeting later this month.”
The Bank of Mexico, which has an inflation target of 3% +/- one percentage point, last month raised the benchmark interbank rate by 50 basis points, for its sixth consecutive increase, citing a longer duration and magnitude of the inflationary pressures.
His next monetary policy decision is scheduled for March 24, a week after the Fed meeting, at which the US central bank is expected to start raising interest rates from their current near-zero level.
Only in February, consumer prices increased by 0.83%, while the core index showed a rate of 0.76%, amid increases in products such as domestic gas, low-octane gasoline, chicken and lemon.
With information from Reuters
