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Chart of the day is….

…….Mexico’s Consumer Price Inflation (CPI), 2000 to 2010 measured monthly and indexed to 100 as at June 2002.
I was laying there in bed last night, wondering why you never seem to hear Mexicans complaining about inflation any longer. I mean, I remember all the Tequila episode and the fallout and everything else. So this morning I toddled off to the Mexico Cenbank site and found this dataset (in chart form here).

The answer seems to be that for sure there is some inflation in Mexico, but for one thing it’s at moderate level and for another (and I’m guessing the most important), it’s regular. That line just steadily moves up, doesn’t make jolts to the upside or downside, holds no surprises for the people that it affects. It works like Prozac.

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