Weekly Report - 02 February 2023 (WR-23-05)

MEXICO | López Obrador bullish as inflation rises. Mexico’s President Andrés Manuel López Obrador has stated that inflation will drop this year, despite annual inflation standing at 7.94% in the first two weeks of January - above the 7.82% recorded at the end of 2022. López Obrador attributed this increase to the start of a new year and assured that “the trend will be downwards”. He stated his government had kept energy prices lower than in other countries and had succeeded in controlling the prices of the basic goods. He said these efforts would be reflected in the next inflation figures.

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