Macro Analysis /
GlobalMexico: 1H-May CPI – Surprise to the downside with good news broadening in scope
Inflation fell 0.32% 2w/2w, with the core at 0.18%. Declines were driven by lower energy and agricultural prices
In annual terms, headline CPI moderated to 6.00% from 6.27%, with the core at 7.45% from 7.59%
Given the extension of declines at the non-core, risks to the downside to our year-end forecast of 4.8% have increased
Alejandro Padilla Santana
Executive Director of Economic Research and Financial Markets Strategy @ Banorte
Contributors
24 May 2023
Published byBanorte
