LatinNews Daily - 06 June 2022

In brief: Mexico’s Banxico lowers GDP growth forecast

*Mexico’s central bank (Banxico) has reduced Mexico’s GDP growth forecast for 2022 to 2.2%, down from a previous forecast of 2.4%. In its quarterly report for January-March 2022, Banxico also revised up its forecast for annual inflation, stating inflation will stand at 6.7% at the end of the year, up from a previous forecast of 4%. Banxico expects annual headline inflation to peak in the second quarter of this year, before declining for the remainder of 2022 and throughout 2023. This comes as experts from the private sector surveyed by Banxico have revised up Mexico’s GDP growth forecast to 1.76% from a previous forecast of 1.78%, and increased their inflation forecast to 6.88%, up from 6.67%.

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