Mexico: 1H-June CPI – Good news continue, albeit with a more complicated outlook

  • Headline inflation rose 0.02% 2w/2w, lower-than-expected and helped by the non-core on declines in LP gas and meat & egg

  • Hence, annual headline inflation fell to 5.18% from 5.67%, with the core at 6.91% from 7.32%

  • We recognize inflation risks are skewed to the downside, but we also see possible pressures ahead on food and energy

June 22nd, 2023
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