LatinNews Daily - 01 September 2022

In brief: Mexico’s Banxico maintains GDP growth forecast, ups inflation

* Mexico’s central bank (Banxico) has presented its quarterly report for April-June 2022 in which it maintained its previous forecast for GDP growth at 2.2% for 2022, but increased its inflation forecast from previous estimates. In the report, the inflation forecast for the end of the year was raised to 8.1%, up from 6.7% in Banxico’s January-March 2022 report. Banxico expects annual headline inflation to peak in the third quarter of 2022 at 8.5% before starting to decline. The report highlighted that global inflation was on the rise, “as much in advanced economies as in emerging ones,” due to the lingering effects of the coronavirus (Covid-19) pandemic and the impact of the war in Ukraine.

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