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March Inflation Data Scheduled, AMLO Meets With Counterparts

MEXICO
  • March headline inflation is expected to have fallen to 6.89% from 7.12% at the mid-March reading. The result would imply that first-quarter average inflation would drop below the 7.7% Banxico forecast. Waning upward pressure on prices of food, energy and other tradable goods are contributing to the decline as well as decelerating global inflation, base effects and accumulated peso appreciation. Analysts note that accelerating services inflation due to price indexation, higher labour costs and increasing domestic demand may limit the downside. Data is due at 1300BST/0800ET:
    • March CPI M/m, est. 0.29%, prior 0.56%
    • March CPI Y/y, est. 6.89%, prior 7.62%
    • March CPI Core M/m, est. 0.51%, prior 0.61%
    • March CPI Core Y/y, est. 8.07%, prior 8.29%
  • Separately, President AMLO will hold a virtual conference with Latin American leaders on food imports and exports, and methods to combat inflation.
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