Inflation in Mexico peaks since January 2001

According to the Mexico National Institute of Statistics, inflation in the country rose in November to its highest level in more than 20 years. It amounted to 7.37% in annual terms. At the same time, the target value of the indicator set by the Mexican Central Bank is at the level of 3%. November inflation amounted to 1.14% in relation to prices fixed in October. In the current month of 2020, consumer prices rose 3.33% on an annualized basis. The leaders in the price growth terms were meat, electricity, as well as hotel accommodation and air tickets. Prices for oil, some fruits, internet and mobile communications have dropped. Mexico’s economy contracted 8.5% under pressure from the pandemic in 2020. There wasn’t such an economic downturn in the country for almost 90 years. Inflation in Mexico had reached 3.15% by the end of last year The President of the country previously said that next year the minimum wage will be increased by 22% to 172.8 pesos or 8.2 dollars a day.

author

About author

Arseny Kudrin

Publicist, trader

Read previous post
← New Bank Lending in China Falls to RMB 1.27 Trillion in November
Read next post
The head of the Russian Federation Central Bank gave inflation and key rate forecast for the year →
Get the best solution for your forex company. Please, submit the form below and we will get back to you within 24 – 48 hours.