Bank of Mexico's Inflation Forecast Update

The Bank of Mexico has increased its 2024 inflation forecast to 4.0% from the previous 3.5%, as per their latest quarterly report. Additionally, the forecast for core inflation has been revised to 3.8% from the earlier 3.5%, highlighting a growing concern over price trends.

The Bank of Mexico upwardly revised its forecast for 2024 inflation to 4.0%, up from a previous forecast of 3.5%, according to the central bank's quarterly report released on Wednesday.

Banxico, as the central bank is known, also raised its forecast for core inflation, often seen as a better indicator of price trends, to 3.8% from 3.5% in its previous report .