Forex - Mexico CPI Preview: due November 22 - We expect November H1 inflation at +0.78% m/m, 3.20% y/y


 00:42 (GMT) 15 Nov

  [Economic Data]

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Mexico CPI Preview: due November 22 - We expect November H1 inflation at +0.78% m/m, 3.20% y/y (0101-PYPS-C01)

We expect November H1 headline inflation to come at 0.78%h/h, 3.20%y/y, and core inflation at 0.21%h/h, 3.71%y/y. The bi-weekly strong reading reflects an increase in energy costs after the summer subsidy to northern states energy costs, aided by the surge in fruits and vegetables. We no longer expect services to rise much as domestic demand slowdown is starting to hit the tertiary sector. 12m headline is back above the central target and core inflation remains resilient, backing Banxico caution regarding monetary policy. That said the significant slowdown in the economy should prompt Banxico to keep the easing cycle going in 2020.


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