A modest rise in inflation in Mexico in December 2003 of 0.43 per cent took the annual rate to 3.98%, just inside the central bank's target of a 2 to 4 per cent target range for 2003, said the bank of Mexico on Thursday 8 January. This was helped by slower than expected economic growth and government restraint in raising prices.
Several factors combined last year to help bring inflation down from 5.7 per cent in 2002.
Slower than expected economic growth acted as a brake on consumer demand, a
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