Mexico Inflation Rises To 7.91%

(RTTNews) - Mexico's consumer price inflation increased more-than-expected at the start of the year, data from the National Institute of Statistics and Geography showed on Thursday.

Consumer prices climbed 7.91 percent year-on-year in January, following a 7.82 percent rise in December. Economists had forecast inflation to rise to 7.89 percent.

Data also showed that core inflation rose to 8.45 percent in January from 8.35 percent a month ago. The expected rate was 8.41percent.

Prices for food and non-alcoholic beverages alone grew 12.77 percent annually in January, slightly above the 12.70 percent spike in December. Costs for miscellaneous goods and services registered an increase of 10.14 percent.

On a monthly basis, consumer prices moved up 0.68 percent in January, after a 0.38 percent increase in December. Economists had forecast a 0.64 percent rise.

Core consumer prices increased 0.71 percent in January versus an expected gain of 0.69 percent.