Economy & Business - June 2022

MEXICO | Banxico lowers GDP growth forecast. On 1 June, Mexico’s central bank (Banxico) reduced Mexico’s GDP growth forecast for 2022 to 2.2%, down from a previous forecast of 2.4%. 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%. This came as experts from the private sector surveyed by Banxico revised up Mexico’s GDP growth forecast to 1.76% up from 1.78%, and increased their inflation forecast to 6.88%, up from 6.67%.