**As seen in Risk In The Week report 01/05/24, subscribe at cablefxm.co.uk/repots
Mexico consumer prices ticked faster in November, the headline printed at 4.32% Y/y which missed the consensus estimate of 4.39%. Core CPI extended its previous deceleration trend, the November print eased to 5.3% Y/y from the prior 5.5%, which was also below the consensus median. In the month, services prices eased to 0.42% M/m from 0.44%, goods prices slowed sharply to 0.14% from the prior 0.34%. Banxico’s forecast sees consumer prices rising by 4.10% in 2024 and 3.70% in 2025. Economists at Scotiabank noted that the Mexican peso has appreciated by nearly 8% nice the end of October, a strong peso is likely to keep inflation within trend. Scotiabank reminded us that the Tuesday inflation report will be one of two price data points preceding the February Banxico rate decision. Scotiabank sees both headline and core CPI rising faster in December at 0.7% M/m and 0.5%.
Коментари