MEXICO CITY (Reuters) – Mexico’s headline inflation rate likely accelerated in December after slowing for two straight months, a Reuters poll showed on Friday, reinforcing that monetary policymakers will remain restrictive. Monetary policy is a bet on keeping prices in check.
10 Analysts’ median forecast shows annual inflation at 7 in December.650%, up from 7.80% posted in November, but still below the 8.80% achieved in August Records, and Sept.
Economists attributed the December outlook largely to higher food and carbonated beverage prices.
Inflation has exceeded Bank of Mexico’s 3% target rate, plus or minus one percentage point, prompting it to raise its key lending rate by 80 basis points to 10. 35% in the current rate hike cycle starting in June 650.
Banxico, well known as Mexico’s central bank, is considering another international decision at its next monetary policy meeting, scheduled for Feb. 9, according to the minutes of its last board meeting. on hikes.
The government said on Friday it would issue a new decree temporarily exempting import duties on various goods to curb rising prices.
Meanwhile, the annual core inflation rate, considered a better gauge of price trajectory as it excludes highly volatile items, is expected to hit 8 in December.11% after peaking at 8.65% in November, the highest level in 20 years.
In December, consumer prices alone are expected to increase by 0.50%, while the median forecast for monthly core inflation is expected to be 0.65%.,
Mexico’s statistical institute will release December inflation data.