Abstract

This article studies the inflation process in Mexico during the period 2007-2018 with a non-monetary analysis, where it is emphasized the magna gasoline price like a main cause of inflationary process. First, this research examines the Mexican economy evolution ‒the level of economic activity, economic growth rate and its perspectives‒; secondly, it follows with an analysis of the Mexican financial systems, where receives special attention the interest rates in Mexico and USA, and the exchange rate behavior like an inflationary factor. In the third part, it is discussed the trend of Mexican gasoline prices, taking the USA prices like a reference. Finally, data about Mexican inflation are shown disaggregated through its two main components. Also, an econometric model of inflation as a function of gasoline prices is carried out.

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