Macro Analysis /

Mexico: 1H-Nov inflation – Seasonal factors and food items behind most pressures

  • Inflation stood at 0.69% 2w/2w, surprising higher again on strong increases in electricity and agricultural goods

  • Annual inflation increased to 7.05% from 6.24% in October, with the core at 5.53% from 5.19% in the same period

  • We increase our year-end forecast to 7.3% from 6.6%. For 2022, we now estimate it at 4.4% y/y (previous: 4.0%)

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
24 November 2021
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