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BANCO DE MEXICO PROJECTS HIGH CONSUMER PRICES THROUGH MIDDLE OF 2008; FOOD COSTS ON THE RISE.

Publication: SourceMex Economic News & Analysis on Mexico
Publication Date: 07-NOV-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The continuing high cost of food and energy and the impact of the tax reform due to go into effect in 2008 are expected to put pressure on Mexico's inflation rate the rest of this year and into the third quarter of 2008. Annual inflation for 2007 is already expected to approach 4%, compared with the government's original target of 3% (see SourceMex, 2007-10-03). The high cost of food, which is linked to high fuel prices and a rise in the costs of commodities at the global level, has affected basic consumer goods. A recent report from the Universidad Nacional Autonoma de Mexico (UNAM) said the index...

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