Macro Analysis /

Mexico: 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
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Leslie Thalia Orozco Velez
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
24 May 2023
Published byBanorte


Tellimer | Start Following

Start following your markets today

Follow your key analysts, markets and more so they appear here in your Watchlist - allowing you to keep an eye on the latest updates.