Macro Analysis /
Global

Mexico: 1H-October inflation – Another upward surprise, especially at the core

  • Inflation rose 0.54% 2w/2w, with an adverse seasonality on electricity, with the core up 0.33% on broad pressures

  • Annual inflation increased to 6.12% from an average of 6.00% in September, with the core at 5.12% (previous: 4.92%)

  • We expect Banxico to extend the hiking cycle into year-end and early 2022 as inflation pressures remain elevated

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
22 October 2021
Published by