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Mexico inflation accelerates in January as new taxes take effect
Mexico’s inflation rose in January, bolstering the central bank’s decision to hold rates.
Mexico’s headline inflation rate climbed in January, driven by new taxes on cigarettes, soft drinks, higher tariffs and a minimum wage increase. Core inflation also rose, reinforcing inflationary pressures. The data supported the Bank of Mexico’s decision to pause its long streak of interest rate cuts and maintain the benchmark rate at 7.0% as authorities assess evolving price dynamics.