Banxico’s next rate hike likely in June 2016 meeting

Mexico's CPI inched up to 0.52% 2w/2w as a result of the seasonal adjustment in electricity tariffs and price rises in perishables. However, there is a marginal offset by no core inflation as it posted 0.0%2w/2w.  

The annual inflation rate reduced to 2.3% y/y from 2.5% in the previous fortnight. The annual inflation rate of the economy is expected at 2.4% in 2015 and around 3% in 2016, estimates Barclays. 

Analysts believe that Banxico is unlikely to follow Fed's December rate hike. The central bank is expected to start hiking in the June 2016 meeting, foresees Barclays.