The median of the projections of 13 participants surveyed by the Reuters agency expects an annual rate of 6.90% for the National Consumer Price Index, a level below 7.62% in February, but still far from the permanent target of Bank of Mexico (Banxico) of 3% +/- one percentage point.
For subjacent inflation, considered a better parameter to measure the trajectory of prices because it eliminates highly volatile products, estimates indicate that it would also have fallen to 8.07%, from 8.29% the previous month.
Last week Banxico increased its reference interest rate by 25 basis points, to a new maximum level of 11.25%, but moderating the pace of its current cycle of monetary tightening, and warned that its next decision would be based on the inflationary outlook.
The entity governed by Victoria Rodríguez has increased its interest rate by 725 basis points since June 2021 after inflation began to accelerate. Its next monetary policy statement is scheduled for May 18.
Only in March, consumer prices would have grown 0.31% compared to the previous month, while an increase of 0.50% is expected for the core index, according to the Reuters survey.
The national statistics institute, Inegi, will disclose on Wednesday the price index for the third month of the year.
With information from Reuters
