Mexico

1H-September CPI – Likely pressured for longer, especially at the core component

  • Headline inflation rose 0.41% 2w/2w, surprising to the upside. The core climbed 0.44%, with higher goods and services

  • Thus, annual headline inflation was marginally lower from 8.77% to 8.76%, with the core at 8.27% from 8.13%

  • We revise our forecasts to the upside. We expect year-end CPI at 9.0% y/y from 8.1%, with the core at 8.9% from 7.8%

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Alejandro Padilla Santana @ Banorte
Contributors
September 22nd, 2022
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