Mexico’s annual inflation will stand at 7.34%, a level well above the Bank of Mexico’s target of 3% +/- one percentage point and similar to the rate recorded 15 days prior. points out a survey carried out by the Reuters agency.
As for the underlying component, considered a better parameter to measure the trajectory of prices because it eliminates high volatility products, estimates indicate that it would advance to 6.71%, its highest level since May 2001.
Banco de México has increased the benchmark rate by a total of 200 basis points in its last six monetary policy meetings to its current level of 6%.
Its next decision is scheduled for March 24 and the market anticipates a further 50 basis point increase.
Only in the first 15 days of March, consumer prices would have grown by 0.52% compared to the immediately previous fortnight, while an increase of 0.40% is expected for the core index, according to the survey.
The Inegi will disclose on Thursday the behavior of the price index during the first half of March.
