Macro Analysis /

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

  • Headline inflation rose 0.84% m/m. Both the core (0.77%) and non-core (1.07%) were driven higher by food items

  • As such, annual headline inflation picked up to 7.99% from 7.65%. The core increased to 7.49% from 7.28%

  • We reiterate our call of a 75bps hike in August given these levels of inflation and the Fed’s tightening cycle

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Leslie Thalia Orozco Velez
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
7 July 2022
Published byBanorte


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