Mexico’s INEGI released consumer pricing index and it shows a whopping inflation at 7.37 percent! Mexico is one of the top 3 trading partners for the United States and high inflation in Mexico will eventually impact trade and costs of cross border goods between the two countries.
US inflation data is expected out tomorrow and the general consensus is that it will be higher given it is at 40 year highs now.
At least the Federal Reserve doesn’t still claim inflation is transitory and everybody can feel better about that today!