Mexico ends 2017 with highest inflation since 2000

Mexico City, Jan 10 (IANS) Mexico finished 2017 with an inflation rate of 6.77 per cent, the highest level since 2000, due to a rise in fuel prices, the National Institute of Statistics and Geography (INEGI) said on Tuesday.

The Consumer Price Index (CPI) rose 0.59 per cent in December, the INEGI said.

The core rate of inflation, which excludes volatile food and energy prices, increased 0.42 per cent in December and finished last year at an annualized rate of 4.87 per cent, Efe reported.

Mexico registered a 3.3 per cent inflation rate in 2016, while the CPI rose 2.13 per cent in 2015, the lowest increase in recent years.

In January 2017, the government raised fuel prices between 14 per cent and 20 per cent, pushing prices in many sectors higher.

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