Banxico’s announcement is higher than expected by the market and higher than increase made by the Federal Reserve of the United States (Fed) last week.
Omar Mejía made his debut as deputy governor at this meeting of the Governing Board, who on January 18 was ratified by congress .
In its statement this Thursday, Banxico admits that the “disinflation” process is slower than expected, forcing it to adjust its expectations regarding price increases for the following months.
With this, Banxico forecasts that inflation will return to its target range of 3% +/- one percentage point until the second quarter of 2024.
As far as this year is concerned, the entity governed by Victoria Rodríguez, prices will be above 5% at least until next September.
Banxico has increased its key rate by 700 points since June 2021, and even increased the rate by 75 basis points as inflation soared to 8.7%, its highest level in two decades.
In January, inflation had a slight increase to 7.91% due to the increase in the price of fondas, taquerías and lunchboxes, the increase in the price of cigarettes and Magna gasoline.
There were also pressures on the prices of foods such as bananas, soft drinks and chicken.
