Latam Daily | Downside surprise in inflation in Mexico leads us to lower our forecast

Headline inflation declined to 2.9% in May, an all-time low, and we believe it should remain below 3% for the rest of this year. Meanwhile, core inflation was 0.12% MoM, below our estimate (0.14%) mainly driven by a decrease in the core other goods. We lower our year-end headline inflation forecast to 2.65% from 2.75%.

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