Overview
- INEGI reported a 0.47% biweekly rise in the INPC for early November, lifting annual inflation to 3.61% as core inflation held at 4.32% and the non-core index rose 1.93%.
- Electricity prices climbed 20.70% after the seasonal subsidy ended in 11 cities, with additional pressure from public transport fares and other regulated items.
- Within the core basket, services rose 0.25% biweekly while goods fell 0.19%, keeping the annual core rate elevated at 4.32%.
- The Minimum Consumption Basket index increased 0.71% biweekly and 3.69% year over year, signaling a heavier burden on lower-income households.
- Markets largely took the data in stride as the peso traded near 18.41–18.51 per dollar and the BMV gained about 1%, while analysts still lean toward a 25 bp Banxico cut in December but see slower easing thereafter.