MEXICO CITY, Mexico (AFP) — Mexico registered its highest annual inflation since 2001, at 7.37 percent in November, the Inegi statistics institute said Thursday.
Month-on-month, the increase was 1.14 percent, it said, pointing to agricultural and energy price rises as the main contributors.
The 12-month figure is higher than the 3.33 percent recorded in November a year ago, and in excess of the central bank target of three percent per year.
The previous high was 8.11 percent in January 2001.
Last month, the central bank raised its benchmark interest rate for a fourth consecutive time, to 5.0 percent, to try to curb inflation as the pandemic-hit economy rebounds from a deep recession.
The monetary tightening followed a series of cuts to boost Latin America’s second-largest economy, which shrank 8.5 percent in 2020, the worst slump in around nine decades.
© Agence France-Presse
