CUMULATIVE INFLATION RATE REPORTED AT 7.05 PERCENT FOR 1994; DECEMBER RATE OF 0.9 PERCENT DOES NOT REFLECT DEVALUATION

From: SourceMex Economic News & Analysis on Mexico | Date: January 18, 1995 | Copyright information

On Jan. 9, the Banco de Mexico (Central Bank) reported Mexico's cumulative inflation rate for 1994 at 7.05%. This rate matches the bank's revised forecast of 7%, which was raised late in the year when the initial predictions of 5% were apparently out of reach. Nevertheless, according to the Central Bank, the full impact of the devaluation of the peso, announced on Dec. 20, is not reflected in the inflation rate for December, which was reported at 0.9%.

The report said the highest increases among non-food items during December were for domestic rents, dry cleaning, medicines and ...

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