MEXICO CITY (Reuters – Mexico’s inflation rate was less than it had been in the first half, according to data released on Thursday. Core inflation, however, exceeded expectations, prompting a board member to express concern over underlying price pressures.

The INEGI national statistics agency stated that the rate of inflation in Mexico reached 7.45% by December 1. This is a significant increase from the average rate of 7.37% for November. It was also the highest in Mexico since 2001.

Initial Reuters polls predicted that inflation would reach 7.73% by December 1.

Core inflation (which excludes volatile items) reached 5.87%. This was higher than analysts had predicted for 5.70%. Core inflation in November was 5.67%. The consensus Reuters forecast of core inflation for the first time was 5.68%.

Jonathan Heath was a Board Member of Bank of Mexico. Last week, the benchmark interest rate at 5.50% was increased by 50 basis point to 5.500%. This move is to limit price pressures.

Heath stated on Twitter that “although headline inflation did slow down at the margin” (NYSE:

Last week, the central bank also raised its expectations regarding Mexican inflation for this year’s end and 2022.

With a tolerance of one point above or below 3% inflation, the bank wants to achieve 3% inflation.

Consumer prices increased by 0.1% in December’s first half, compared to the two weeks before. The INEGI data revealed that the core index increased by 0.59 percent.