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  • Temporary price shocks lifted headline inflation in Mexico, but underlying pressures are modest…
  • …Ongoing tariff risk and agricultural volatility keep the inflation risk balance tilted slightly to the upside.
  • Inflation is improving in Brazil, but fiscal risk and tight job conditions will keep policymakers cautious.

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Keywords for: 10 December 2025 LatAm Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence