Mexico's central bank chief Agustin Carstens crossed the wires last minutes, via Reuters, saying that Pick up in prices does not reflect a sustained acceleration in inflation.
Key headlines (via Reuters):
- There are certain prices that we will have to pay attention to
- If Banxico overreacts, Mexico could put in place higher rates than needed and impact economy
- Peso depreciation has contributed to elements of core inflation
- Fluctuation in exchange rate should not automatically affect prices across the board
- Inflation expectations are well anchored