MEXICO CITY – Mexico finished 2017 with an inflation rate of 6.77 percent, 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 percent in December, the INEGI said in a statement.
The core rate of inflation, which excludes volatile food and energy prices, increased 0.42 percent in December and finished last year at an annualized rate of 4.87 percent.
Mexico registered a 3.3 percent inflation rate in 2016, while the CPI rose 2.13 percent in 2015, the lowest increase in recent years.
In January 2017, the government raised fuel prices between 14 percent and 20 percent, pushing prices in many sectors higher.