Mexico Bucks Latin America Trend as Inflation Doubles Amid Virus

Nowhere in Latin America has inflation accelerated so much since the pandemic hit as in Mexico, where supply chain problems and a weaker currency are offsetting the price impact of plunging consumption.

Mexico’s consumer prices rose 4.05% in August from a year ago, nearly twice as much as the 2.15% rate recorded in April and above the upper limit of the central bank’s target for the first time in 15 months. By contrast, inflation has been contained at 2.4% in Brazil and is slowing in most of the region -- even in Argentina, where it remains close to 40% a year.