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LatinNews Daily - 14 October 2022
In brief: Mexico’s Banxico warns of lasting high inflation
*Mexico’s central bank (Banxico) has recognised that a “more complex [economic] environment” has driven up inflation forecasts for 2023 and 2024, with inflation not expected to return to the target level of 3% until the third quarter of 2024. In the minutes from the board’s meeting on 29 September, some members underscored how since September 2021 inflation levels have repeatedly “surprised” compared to the predicted levels. According to Mexico’s national statistics institute (Inegi), the consumer price index (INPC) was 0.62% in September, bringing annual inflation to 8.7%.
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