Mexico Annual Inflation Eases Off Eight-Month High in February Reuters
go to original March 7, 2014

Annual inflation in Mexico cooled off an eight-month high in February as the effect of new taxes from a fiscal reform eased, underpinning chances the central bank will keep interest rates on hold this year.

Inflation in the 12 months through February was 4.23 percent, the national statistics agency said on Friday, down from January's 4.48 percent pace but just above the 4.2 percent forecast in a Reuters poll.

February marked the second month in which inflation strayed above the central bank's 4 percent ceiling, as the government rolled back fuel subsidies and a fiscal reform approved last year drove up prices on soft drinks and junk food.

Mexico's central bank predicts annual inflation will remain above the 4 percent ceiling in the first months of 2014 before falling below that level later in the year.

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