Mexico faces considerable inflationary pressure and possibly “inflationary inertia”, Jonathan Heath, a deputy governor and member of the Bank of Mexico board, said on October 13.

Speaking on a podcast produced by Mexican banking group Banorte, Heath said: “It’s easy to see that prices are increasing, and they’re being transferred to consumer prices at a pace that’s really phenomenal.”

He added that these price increases were “generalised” and thus harder to control. Heath estimated that