Investor Presentaiton
2016
2017
In most of the major advanced economies, headline and core inflation continued increasing and
headline inflation remained significantly above their respective central banks' targets. Short-term
inflation expectations kept increasing.
Advanced Economies
Annual % change
Headline Inflation
12
July
11
Inflation Forecasts for 2022
United Kingdom
August
10
10
6
10
United States 1/
8
9
PCE Index
8
CPI Index
7
7
United States
Л
6
5
5
United Kingdom³/
Euro area
4
3
2
1
0
-1
Euro area
4/
Japan 2/
2018
2019
2020
2021
2022
3
Japan
2
1
0
Jan.
Feb.
Mar.
Apr. May.
Jun.
Jul.
Aug.
2022
2022
2022
2022
2022
2022
2022
2022
1/ The solid line refers to the Personal Consumption Expenditure Price Index (PCE) and the dotted line shows the Consumer
Price Index (CPI). 2/ Excludes fresh food. This series does not exclude the effect of the consumption tax increase in May
2014 and October 2019, nor the effect of the free daycare and preschool program in October 2019. 3/ The harmonized
index is shown. 4/ Preliminary figures published for August. Source: Bureau of Economic Analysis, Bureau of Labor Statistics,
Eurostat, Bank of Japan, Office for National Statistics of the UK.
BANCO MÉXICO
Source: Consensus Forecasts.
Quarterly Report April - June 2022
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