Business · Economy · 48 mins ago
Banxico official warns inflation pressures could return easily
Banxico deputy governor Galia Borja Gómez says Mexico cannot be considered to be in a disinflation process until supply shocks are contained.
September inflation data showed jet fuel costs affecting airlines and renewed price pressures on some vegetables.
She said only a handful of items in the index face these pressures, rather than most of its more than 290 items.
These price changes can reverse easily, including because of climate-related effects.
Although non-core inflation figures have been good, Borja said they could change, and she voted to leave the interest rate unchanged last week.
Services inflation has stayed above 4% for 25 months, a persistent pressure that she said is driven locally.
Banxico deputy governor Galia Borja Gómez warned that inflation pressures could return quickly.
She said supply shocks must be contained before Mexico can be considered to be in a disinflationary process.
September inflation data showed the impact of jet fuel costs on airlines and renewed pressures on tomatoes and zucchini.
Borja said service inflation had remained above 4% for 25 months.
She voted against changing the interest rate the previous week.
- Who
- Galia Borja Gómez, deputy governor of the Bank of Mexico.
- What
- She warned that price pressures could easily return and said she wanted more evidence before anticipating inflation trends.
- When
- She made the remarks on Monday; the article was published on November 10, 2026.
- Where
- At the Bloomberg Línea Summit 2026.
- Why
- September inflation data showed supply-related price pressures, while service inflation remained persistent.
This story does not have two clearly opposing sides.
Inflation data showed the impact of jet fuel costs on airlines and renewed pressures on tomatoes and zucchini.
Borja voted against changing the interest rate.
Borja spoke at the Bloomberg Línea Summit 2026 about inflation pressures and the need for more evidence.
- Official
- Galia Borja Gómez
- Institution
- Bank of Mexico (Banxico)
- Event
- Bloomberg Línea Summit 2026
- Service inflation
- Above 4% for 25 months
- Inflation data
- September figures showed jet fuel cost impacts and renewed pressures on tomatoes and zucchini
2 sources
What people are saying
I do not like to anticipate; I would like to see more evidence. I am more conservative.
Only a handful of items in the index have these pressures, not the more than 290 that make it up.
They are relative price shocks that weigh enough in the index to cause this reversal due to weather issues.