Mexico's inflation points to its highest level since 2017

Mexico’s inflation points to its highest level since 2017

As for core inflation, it is expected to reach a level of 5.16%, its highest level since May 2009. The deputy governor of Banxico, Jonatha Heath said last October that one of their concerns is this index because it presents high volatility products such as food.

“There was definitely a disruption in consumption patterns due to inflation, there is no doubt, perhaps we are going to see some permanent effects of this change in household consumption,” Heath said. The deputy governor said that the normalization of inflation will not occur in the short term, he even said that there will be a peak in inflation in the first quarter of 2022 and then begin its return to the goal.

In September, Banxico raised its rate to 4.75% and updated inflation expectations, highlighting that the inflationary goal would be achieved until the third quarter of 2023. The next monetary policy decision, the penultimate of a total of eight in the year, is scheduled for next Thursday. Banxico has a permanent inflation target of 3% plus / minus one percentage point.

The increase in the National Consumer Price Index (INPC) would have been driven by price increases in some agricultural products, LP domestic gas and electricity rates.

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