Mexico: June CPI – Inflation keeps moderating due to the non-core

  • Headline inflation rose 0.10% m/m, with the core at 0.30%. However, the non-core fell 0.52%, helped by energy prices

  • As such, annual headline inflation dropped to 5.06% from 5.84%, with the core also lower at 6.89% (previous 7.39%)

  • We now expect CPI by YE23 at 4.5% (previous: 4.8%), albeit remaining on the look to possible risks ahead

July 7th, 2023
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