Banxico March News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Mexican Inflation Shoots Up, USD/MXN Awaiting Banxico Meeting Minutes for Guidance Key Talking Points: Mexican CPI shoots up above 3% target Advertisement Mexico’s inflation data for March has shot up as expected, with the CPI reading coming in at 4.67% year on year, and the monthly core CPI reading actually coming in above expectations at 0.54% (Exp. 0.52%). The yearly figure continues to rise above Banxico’s target of 3% and is confirming the trend of rising prices as the country attempts to recover from the Covid-19 pandemic. This follows on from a halt in the rates easing cycle from Banxico as the central bank was concerned about overheating inflation as economic recovery was getting underway. So this latest reading has just put more pressure on the bank to decide whether it is going to react to rising inflation or remain supportive of the economy with a loose monetary policy in the foreseeable future.

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