Mexico Annual Inflation Hits Fastest Pace in 8 Months in Early January Reuters
go to original January 23, 2014

MEXICO CITY - Mexican annual inflation rose in early January at its fastest pace since May due to an uptick in soda and gasoline prices after a fiscal reform, but the central bank has said it expects the spike to be temporary.

Inflation for the 12 months through the first half of January rose to 4.63 percent, the national statistics office said on Thursday, just above expectations for a 4.61 percent rise in a Reuters poll.

The figure was also up from the 3.86 percent rate in the first half of December and the 3.97 percent rate for the full month.

January's figure marked the first time annual inflation through the initial half of a month strayed above the central bank's 4 percent limit since June, as the finance ministry rolls back fuel subsidies and a fiscal reform approved last year raised prices on soft drinks and junk food.

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