Inflation complicates the return to classes in Mexico

A survey carried out by the Reuters agency estimates that the consumer price index for the first half of August will rise to 8.51%, its worst level since December 2000 and almost triple the permanent goal of the Bank of Mexico (Banxico) of 3% +/- one percentage point.

The entity governed by Victoria Rodríguez has raised its reference interest rate by 450 base points since June of last year in the face of persistent price pressures.

Analysts estimate that prices will reach their highest point in September and then begin to stabilize thanks to the greater comparative base.

As for underlying core inflation, considered a better parameter to measure the trajectory of prices because it eliminates high-volatility products, estimates indicate that it would stand at 7.8%, also its highest level since the end of 2000.

Only in the first 15 days of August, consumer prices would have grown by 0.36% compared to the immediately previous fortnight, while an increase of 0.34% is expected for the underlying index, according to the Reuters survey.

The Inegi will release the price index for the first half of August on Wednesday.

With information from Reuters