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Inflation goes up to 3.4 % the First Two Weeks of February

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Puerto Vallarta, Jal. - Inflation was up to 3.04 % by the second week of February, which represents an increase of 0.11 % in relation to the second week of January.
According to the Statistic and Geographic National Institute, at this same time in 2014, consumers had suffered a yearly inflation of 4.21 % and a biweekly inflation of 0.12%.

The figures above are based on the underlying indicator which removes the prices that have greater impact and volatility, such as the energy sector, thus allowing the conclusion that the biweekly inflation was 0.28%.

Among the underlying services, general merchandise registered a percentage increase of 0.36 on the first two weeks of February; while other services, such as housing and education, suffered 0.21 % increase.

Meanwhile, still comparing with the first two weeks of January, farming products went down 0.98% and government fees such as energy products were reduced by 0.08% even though their annual impact on the inflation rate was 0.41%.

Banco de Mexico expects the annual inflation rate for 2015 will remain at around 3%. The inflation rate will be lower during the first semester of the year while the second semester will experience a higher inflation rate.

They also pointed out that inflation could go up if the peso stays for a long time as it is now (15 to $1), and cannot be brought back to 12.80 to $1 as it used to be.

[readon1 url="index.php?option=com_sobipro&pid=1&sid=703:mar&Itemid=212"]Source:www.VallartaToday.com-by MAR Translation Services[/readon1]

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