Mexico’s November inflation likely at 2.3% y/y

Mexico's the inflation industrial production data are scheduled to release this week. The inflation rate reduced to below Baxico's target of 3.0% in May for first time in a decade.

The biweekly inflation rate posted at 0.08% 2w/2w in the second half of the month was as expected. 

"Annual inflation should remain at 2.3% y/y with core at 2.35%. For the latter, the forecast is consistent with a 0.3% m/m sa expansion as a result of the observed increases in US manufacturing and oil production (0.4% and 0.2% m/m sa respectively) partially offset by the contraction in automobile output (-0.3%)", estimates Barclays.