Mexico |Jan.inflation forecast: base-effect driven temporary rebound will continue in Feb.

We expect headline inflation to increase 0.45% MoM in January (3.20% YoY), with core coming in at 0.33% MoM (3.73% YoY).

Key points

• Key points:
• We are sticking with our forecasts of 3.5% for headline with core at 3.3%
• The base-effect driven temporary increase in inflation should not be an impediment for Banxico to continue the rate cut cycle

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