“The interest rate (of Banxico) is expected to continue increasing in February, with an expectation of the consensus that leans slightly towards 25 basis points” from the current level of 5.5%, Citibanamex refers in its Expectations Survey released the afternoon of this Wednesday.
The median of the projections of 11 analysts estimates an annual inflation of 7.51% during December, compared with 7.37% the previous month, according to a survey carried out by Reuters.
If the estimate is confirmed, it would be the highest record since 8.11% in January 2001, according to figures from Banxico.
Regarding the underlying component, estimates indicate that it would advance to 5.94%, its highest level since October 2001.
Banxico raised its benchmark interest rate in mid-December, above what the market expected, to take it to 5.5%, citing a deterioration in inflation forecasts.
The next monetary policy decision, the first of eight for the year, is scheduled for February 10. Banxico has a permanent inflation target of 3% +/- one percentage point.
In December alone, it is estimated that consumer prices rose 0.51%, according to the survey, while for the core index the median of the projections was 0.76%, according to Reuters.
The increase in the National Consumer Price Index (INPC) would have been driven by price increases in some processed foods, merchandise and livestock products.
The statistics institute will disclose on Friday the behavior of the price index during December.
