Mex­ico in­fla­tion closes 2018 above tar­get

The Phnom Penh Post - - BUSINESS -

MEX­ICO reg­is­tered in­fla­tion of 4.83 per cent for last year, still above the cen­tral bank’s tar­get de­spite a down­ward trend for the year, ac­cord­ing to of­fi­cial data re­leased on Wednesday. The cen­tral bank has steadily raised in­ter­est rates to an all­time high in a bid to bring in­fla­tion within its tar­get range of two to four per cent. The key in­ter­est rate in Mex­ico, Latin Amer­ica’s sec­ond-largest econ­omy af­ter Brazil, cur­rently stands at 8.25 per cent, a level it also reached dur­ing the 2008 fi­nan­cial cri­sis. The an­nual in­fla­tion rate fell last year from a start­ing point of 6.77 per cent. But it ticked up at the end of the year, af­ter com­ing in at 4.72 per cent in Novem­ber. An­a­lysts polled by the cen­tral bank fore­cast in­fla­tion of 3.89 per cent for this year.

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