Overview
- Mexico’s statistics agency reported November inflation at 3.8%, topping expectations, with electricity and certain foods such as tomatoes among the biggest contributors.
- Core inflation reached 4.43% in November, above the 4.34% market forecast and up from 4.28% in October, signaling broader price pressures.
- Despite the pickup, some analysts, including Monex, still anticipate a 25 basis point rate cut by Banxico to 7.00% on December 18, even as subgovernor Galia Borja warns that inflation risks remain tilted upward.
- Peru’s central bank said 12‑month inflation expectations eased to 2.16% in November, with projections for 2025–2027 staying within its target ranges after recent revisions.
- Argentina’s INDEC will release November CPI on December 11 at 16:00, with private consultancies estimating a monthly rise of roughly 2.3% to 2.5%.