Macro Analysis /

Mexico: 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
Juan Carlos Alderete Macal

Director of Economic Research

Leslie Thalia Orozco Velez
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
9 June 2022
Published byBanorte


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