Posted 3/7/2024, 1:40:02 PM
Mexico Inflation Slows in February, Supporting Case for Gradual Rate Cuts
- Mexico's annual inflation rate slowed to 4.4% in February, down from 4.88% in January
- The reading was below economists' forecast of 4.42%
- Core inflation, excluding food and energy, also slowed to 4.64%
- The data supports expectations that Mexico's central bank will cut interest rates at its March 21 meeting
- Inflation remains high in the services sector, meaning the central bank will likely cut rates gradually
