What inflation is expected for Mexico in 2023?
Mexicans will have to suffer high prices for at least two more years. The Banco de México forecasts show that inflation will not return to the 3% target until the last quarter of 2024.
In the latest central bank forecasts, inflation is expected to be 7.5% in the first quarter of 2023, which will drop to 5.9% in the second quarter while in the third and fourth quarters, inflation will be 4.8% and 4.2 %, respectively.
How has it affected the end of 2022?
High inflation has been registered mainly in food, beverages and tobacco, with a 14% increase in prices in the first half of December.
With inflation above 7%, Banco de México had to raise the rate to 10.5% to prevent consumers from spending their money and causing more inflation.
By raising the rate, consumers could choose to invest it in instruments such as Cetes, which are yielding returns of up to 11%.