Mexico inflation closes 2018 above target
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.