Bank of Mexico Boosts Economic Growth and Inflation Forecasts

The Bank of Mexico raised its 2023 economic growth forecast to 1.6% from 1.1% and adjusted its inflation predictions for the fourth quarter of 2026 upward, with overall inflation now expected at 3.5% and core inflation at 3.4%, according to its latest quarterly report.

The Bank of Mexico has revised its economic outlook for this year, boosting its growth projection for Mexico's economy to 1.6%, up from the previously estimated 1.1%, as detailed in the institution's quarterly report released on Thursday.

In tandem with the growth projection, the bank adjusted its inflation forecast for the fourth quarter of 2026, predicting an average annual inflation rate of 3.5%, an increase from the 3.0% projection made in its November report.

Additionally, the forecast for average annual core inflation during that period was lifted to 3.4%, also up from the November estimate of 3.0%, marking a cautious outlook on inflation trends.

(With inputs from agencies.)