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Inflation Tops Forecast, but Unlikely to Sway Banxico Next Week

MEXICO
  • Inflation data out this morning showed prices rising just ahead of expectations, with both core and headline metrics beating across M/M and Y/Y reads.
  • Further upside surprises will continue to pressure the central bank, however, Banxico are very much expected to follow the Fed at its meeting next Thursday.
  • Notably, overnight the head of Profeco, the consumer agency, flagged that both the government and the food production sector will be strengthening their plans against inflation to further limit price rises across the list of 24 key goods. These policies are created in tandem with AMLO, who may announce more details in due course.

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