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Mexican inflation expected to tick up in early January: Reuters poll - Metro US

Mexican inflation expected to tick up in early January: Reuters poll

FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in Mexico City

MEXICO CITY (Reuters) – Annual inflation in Mexico likely accelerated slightly in the first half of January due to an increase in the price of gasoline and some foods, a Reuters poll showed on Tuesday.

The median forecast of 12 analysts polled was for inflation to tick up to 3.17% in early January from 3.08% in the second half of December, the lowest level since May.

In the first half of January, consumer prices were predicted to have risen 0.34% from the previous two-week period, the poll showed. The core price index, which strips out some volatile components, was seen climbing 0.16%.

Core annual inflation was expected to register a rate of 3.78%, the survey showed.

Mexico’s central bank targets an inflation rate of 3%, with a one percentage point tolerance limit above or below that.

The Mexican national statistics agency, INEGI, is due to publish the latest inflation data on Friday morning.

(Reporting by Miguel Angel Gutierrez in Mexico City and Gabriel Burin in Buenos Aires; Editing by Alistair Bell)

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