Mexico: February CPI – Rebound in annual terms, with the core still trending up

  • Headline inflation rose 0.83% m/m, with the core at 0.76%. Increases centered in energy, meat and egg, and core goods

  • As such, annual headline inflation picked up to 7.28% (previous 7.07%), with the core increasing to 6.59% from 6.21%

  • We expect Banxico to hike by 50bps on March 24th, with risks of a more aggressive hiking cycle remaining

March 9th, 2022
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