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Inflation rate in Mexico increases slightly to 7.7 in December

Mexico City, Mexico — Consumer inflation picked up slightly again in the first half of December, according to the National Institute of Statistics and Geography (Inegi). In the first half of the month, the National Consumer Price Index (INPC) reported a variation of 0.39 percent compared to the last two weeks of November.

The foregoing led to the fact that, in annual comparison, consumer prices increased to 7.77 percent, but remains below 8 percent where it has been in past months. However, analysts do not rule out a rebound by the end of the year.

The Inegi report detailed that underlying inflation, which eliminates from its calculation the goods and services with the most volatile prices, slowed to 8.35 percent in annual comparison after several months on the rise.