“Sometimes we would like them not only to worry about controlling inflation, but also to balance taking care of growth and they always go more to fight inflation and not to promote growth,” said the president, reiterating that he is respectful of bank decisions.
The Bank of Mexico and the central banks around the world are fighting against inflation to bring it to the target of 3% (+/- one percentage point) by raising the cost of money to thus cool consumption and try to return the balance between supply and demand.
Due to the pandemic and the war in Ukraine, production chains have been disrupted, resulting in not enough products and services to meet consumer demand around the world.
In October, according to data released by the National Institute of Statistics and Geography (Inegi), the consumer price index stood at 8.41% below market expectations (8.46%).
However, it is double the upper limit of the range that the central bank is targeting.
With information from Reuters
