Mexican inflation accelerated more slowly than expected in early February

According to data from the National Statistics Agency, Mexican consumer price inflation accelerated not as quickly as than forecast in the first two weeks of February. The country’s annual inflation ticked up to 3.84% from a rate of 3.74% in the second half of January, but undershot the consensus forecast of a Reuters poll for a reading of 3.88%.

A breakdown of the data published by the agency known as INEGI showed that fuels and certain fruits and vegetables helped to push up prices in early February.

An article on explains that the Mexican Central Bank, which targets a rate of 3%, earlier this month cut its benchmark lending rate for the first time since September, flagging uncertainty over the economic outlook and global efforts to tackle the COVID-19 pandemic.

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