Macro Analysis /
GlobalMexico: May inflation – Relatively high despite the period’s benign seasonality
Headline inflation up 0.18% m/m, with the core at 0.59%. Food still high as other categories were aided by discounts
As such, annual headline inflation fell slightly to 7.65% from 7.68%, but with the core higher to 7.28% from 7.26%
With these results and recent data, we reiterate our call of a 75bps hike on June 23rd and a 9.50% rate by YE22
Juan Carlos Alderete Macal
Director of Economic Research @ Banorte
Contributors
9 June 2022
Published byBanorte
