Macro Analysis /
Global

Mexico: Aug inflation – Diverging dynamics in the headline and core components

  • Inflation rose 0.19% m/m, low vs. the usual prints given lower LP gas prices in 1H as a price ceiling was introduced

  • However, the core remained pressured at 0.43% m/m, with additional increases in goods despite modest services

  • Annual inflation declined to 5.59% from 5.81%, also helped by positive seasonality. The core rose to 4.78% from 4.66%

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Contributors
Francisco Jose Flores Serrano
Manuel Jimenez Zaldivar
Santiago Leal Singer
Leslie Thalia Orozco Velez
Banorte
9 September 2021
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