Mexico

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

August 9th, 2022
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