Macro Analysis /
Global

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

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