The small decline in Mexican inflation, to 4.3% y/y in May, confirms that the headline rate has passed its peak. Even so, concerns about the prospect of US tariffs, as well as the recent credit rating downgrade of Pemex and the sovereign, will probably result in Banxico reverting to its previous hawkish stance.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.