High inflation and governance problems are the main obstacles to economic growth in Mexico , according to a survey conducted by the Bank of Mexico (Banxico) to private analysts.
The survey carried out between September 22 and 28 indicates that general inflation will close the year at 8.44% from an estimated 8.13% last August.
Core inflation will close the year at 8.08% , according to analysts’ expectations. The estimates of the Bank of Mexico is that in the last quarter of the year, general inflation is 8.6%.
With these levels of inflation, it is estimated that the reference rate will reach 10.25% this year. The Bank of Mexico highlighted in its latest monetary policy decision that high interest rates at the global level would be prolonged in the face of world inflation that does not yield.
Inflationary pressures within the country are the biggest cause of concern for analysts as a brake on economic growth as well as public insecurity problems, according to the survey.
This Monday, the federal government presented a (PACIC), which was launched last May.
The new measures include the suspension of exports of some grains and aluminum used to package food. The regulation that prevents or makes food imports more expensive will also be eliminated.
