Mexico: 1H-Nov CPI – Another downward surprise despite a high print at the core

  • Headline inflation rose 0.56% 2w/2w, lower-than-expected, helped by the non-core on lower gas and agricultural goods

  • Hence, annual headline inflation reached 8.14% from 8.28%, with the core higher at 8.66% from 8.45%

  • We now expect CPI at 8.4% from 9.0% previously by year-end, with the core at 8.6% (previous: 8.9%)

November 24th, 2022
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