Mexico | 1HFeb inflation forecast: base-effect driven temporary rebound is set to continue

Summary

We expect headline inflation to increase 0.19% HoH in in the first half of February (3.59% YoY), with core coming in at 0.29% HoH (3.76% YoY).

Key points

• Key points:
• We are not expecting March’s inflation to increase further in annual terms
• Looking ahead, we expect annual headline inflation to drop back to 3.3% on average during 2Q
• Under such a backdrop, the easing cycle should continue

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