Inflation decelerated at the end of 2014 in Mexico and Chile

In spite of the deceleration observed in the last few months, which we expect to continue going forward, inflation closed 2014 above the upper bound of the target (i.e. 4%) in both Mexico and Chile. Today we expect annual inflation to also decelerate and close the year slightly below the 6.5% target ceiling in Brazil, where the government announced yesterday another measure to deliver its promised fiscal adjustment.

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