Mexico

Mexico: March CPI – Rebound in annual rate, with the core still trending up

  • Headline inflation rose 0.99% m/m, with the core at 0.72%. Increases were centered in energy and processed foods

  • As such, annual headline inflation picked up to 7.45% from 7.28%, with the core increasing to 6.78% (previous 6.59%)

  • We believe figures will keep climbing for much of 2Q22, further driving Banxico’s hawkish bias

April 7th, 2022
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