Mexico Core Inflation Record Low

Mexico’s core inflation, which excludes energy, fruit, vegetables and education prices, fell to 2.98% in January compared with the same month last year. Core inflation for the month was 0.24%. Headline inflation, meanwhile, rose 0.59% month on month to 3.94%, the highest level in five months. Mexico enjoys the second lowest annual inflation in Latin America (behind Peru). Economists expect the low core inflation to lead the central bank to ramp up benchmark interest rate cuts.