1H-August CPI – Decline in annual terms despite higher pressures in the period

  • Headline inflation rose 0.31% 2w/2w, impacted by agricultural and energy items, as well as services at the core

  • Annual headline inflation reached 4.67% from 4.78%, with the core accelerating its decline to 6.21% from 6.52%

  • As such, we reaffirm our call that Banxico will keep the reference rate at 11.25% for the rest of the year

August 24th, 2023
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