Mexican Inflation Rises To 3.77%

(RTTNews) - Mexico's consumer price inflation increased slightly as expected in February from a 4-yearlow in the previous month, data from the National Institute of Statistics and Geography, or INEGI, showed on Friday.

The consumer price index climbed 3.77 percent year-on-year in February, faster than the 3.59 percent rise in January.

Meanwhile, core inflation stood at 3.65 percent in February, almost in line with the 3.66 percent in January.

Prices for food and non-alcoholic beverages alone grew 3.78 percent annually in February, and housing costs were 3.75 percent higher compared to last year. Costs for services showed an increase of 4.64 percent.

On a monthly basis, consumer prices moved up 0.28 percent in February after rising 0.29 percent in the prior month. Core consumer prices increased 0.48 percent.

Following four consecutive quarter-point reductions, the Bank of Mexico increased monetary easing last month by lowering its benchmark interest rate by 0.5 percentage points to 9.5 percent.