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Mexico central banker says inflation should peak in first quarter -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: An outdoor vendor in Mexico City holds a Mexican banknote January 22, 2022. REUTERS/Luis Cortes

MEXICO CITY, (Reuters) – Jonathan Heath, a member of the Mexican central bank board forecast that core inflation will peak in Mexico’s first quarter. From there it should begin a downward trend.

Heath claimed in a podcast that Mexican Bank Banorte published Wednesday on Wednesday that inflation should be very close to 4 percent by 2022 and “much closer to” the Bank of Mexico’s target of 3% by mid-2023.

In Mexico, headline inflation decreased slightly to 7.13% from the second half of December. This is still above the central bank target rate at 3%. However, core inflation increased to its highest point in 20 years.

Heath said that “this inflation bubble, we think we can appropriately name it pandemic inflation, arises precisely after the pandemic has caused all of the disruptions in global value chains,”

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