2023-07-10 12:47:00
In the second half of June, inflation was 4.93% at the annual rate, mainly due to the sharp drop in energy costs.
the analyst Alexis Milo explained to Bloomberg that headline inflation slowed down because there were non-core deflation for the first time since 2020, given the good gasoline data.
However, core inflation (merchandise, food, beverages, tobacco, non-food merchandise, services, housing, education) is a concern, as it has not dropped to the expected level.
Ve por Más analysts agree that inflation had a good pace due to the prices of energy and agricultural raw materials, but this is not the case for non-food merchandise.
Meanwhile, members of Intercam warned of inflation risks for this second half of the year that began recently:
“The first of these is that since most of the progress in headline inflation comes from non-core inflation, an eventual reversion to the mean in energy prices towards the end of the year will have an impact on upward pressures”.
Likewise, they identified resignation of the subtacente component on lowering its pace and point to distortions in the processes of price formation and salary pressures.
Banorte analysts add that food prices might be affected due to the El Niño weather event.
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