* 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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