Macro Analysis /
Global

November inflation – Annual rate reaches 7.4%, highest since 2001

  • Headline and core inflation stood at 1.14% and 0.37% m/m, both surprising again significantly to the upside

  • Annual inflation stood at 7.37% from 6.24% in October, new high since January 2001. The core reached 5.67% from 5.19%

  • With much higher inflation and a faster Fed tapering, we expect Banxico to hike by 50bps on December 16th, to 5.50%

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Contributors
Manuel Jimenez Zaldivar
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
Banorte
9 December 2021
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