Macro Analysis /

Mexico: 1H-Sep inflation – Upward surprise amid signals of broader pressures

  • Inflation rose 0.42% 2w/2w, surprising to the upside given relevant gains across different categories

  • In the core we noted an increase in goods, while the non-core was pushed by fruits and vegetables and energy

  • Annual headline and core inflation rose to 5.87% and 4.92%, respectively, supporting our call of 3 more hikes in 2021

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
23 September 2021
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