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April CPI Inflation Scheduled At 1300BST

MEXICO
  • Deputy Finance Minister Gabriel Yorio said yesterday that the government is considering options to absorb as much as $40bn in Pemex debt during the next presidential term. Options include repurchasing bonds issued by Pemex or issuing sovereign debt to fund buyouts. Yorio said that any plan would be gradual and exercised over the next six years, with legislative changes required for any significant operations.
  • On the data front today, April CPI inflation data will be released at 1300BST(0800ET), ahead of the later Banxico interest rate decision. Analysts expect headline inflation to rise to 4.63% y/y, from 4.42% in March, even as core CPI inflation is expected to moderate to 4.39%, from 4.55%.
    • April CPI MoM, est. 0.18%, prior 0.29%
    • April CPI YoY, est. 4.63%, prior 4.42%
    • April CPI Core MoM, est. 0.23%, prior 0.44%
    • April CPI Core YoY, est. 4.39%, prior 4.55%
  • Meanwhile, leading presidential candidate Claudia Sheinbaum will hold a campaign event in the state of Veracruz at 2030BST(1530ET). Earlier, at 1900BST, opposition presidential candidate Xochitl Galvez will hold a rally in Reynosa in the first of a series of campaign events in the state of Tamaulipas.

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