off-the-wire

UPDATE 1-Mexico president says inflation will begin to fall after January rebound

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds comments, background) MEXICO CITY, Feb 10 (Reuters) -


Mexico's inflation will start falling after the uptick registered in January, President Andres Manuel Lopez Obrador said Friday. Mexico's


annual headline inflation accelerated to 7.91% in the 12 months through January, official data showed on Thursday, slightly above forecasts and higher than the 7.82% registered in December.


Also on Thursday, the Bank of Mexico's five-member governing board unanimously


voted to increase the benchmark interest rate by 50 basis points to 11.00%, above market forecasts, citing a complex inflation scenario.


Lopez Obrador said during a regular news conference on Thursday he respects the latest key rate hike by the central bank, but called on the bank to also focus on economic growth.

(Reporting by Ana Isabel Martinez; Writing by Valentine Hilaire; Editing by Isabel Woodford)

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