Mexico's producer prices gains on monthly basis

By Ovunc Kutlu

ISTANBUL (AA) - Mexico's producer prices increased in January on a monthly basis, according to official figures Thursday.

The producer price index rose 0.38% in January, compared to December, the National Institute of Statistics and Geography (INEGI) said in a statement.

The figure is a significant acceleration from December when it recorded a monthly decline of 0.3%.

At a monthly rate, primary prices rose 3.69% in January; while secondary and tertiary activities gained 0.25% and 0.06%, according to INEGI.

Producer prices increased 1% in January, following a 1% gain in December.

Mexico's central bank will conclude its monetary policy meeting later Thursday and it is widely expected to keep its key interest rate steady at a record 11.25%.

The Bank of Mexico last hiked its key interest rate last March by 25 basis points -- its 15th increase since mid-2021.