Macro Analysis /

Mexico: July CPI – Food items remain to the upside, pushing annual rates higher

Headline inflation rose 0.74% m/m, with the core at 0.62%. Pressures centered in processed and fresh food
As such, annual headline inflation picked up to 8.15% from 7.99%, with the core climbing to 7.65% (previous: 7.49%)
We reiterate our call of a 75bps hike on Thursday by Banxico, with higher prices and the Fed driving the decision

Juan Carlos Alderete Macal

Director of Economic Research @ Banorte

Contributors

9 August 2022

Published byBanorte

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