Prolonged weakness of Mexico’s peso could impact inflation, says central bank deputy
Annual CPI inflation was 4.08% in December, slightly above target
Significant currency depreciation could impact inflation, but there has been a "low pass‐through in recent years", according to Manuel Sánchez, a deputy governor of Bank of Mexico.
In a presentation yesterday in Mexico City, Sánchez argued that inflation risks should "be carefully monitored" to ensure convergence with the central bank's target of 3%. Annual CPI inflation fell to 4.08% in December, slightly above the central bank's tolerance range of 2% to 4%.
The "renewed substantial rises in
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