Mexican inflation likely up in first half of February: Reuters poll

Mexican inflation likely up in first half of February: Reuters poll

© Reuters. The spread of the coronavirus disease (COVID-19) in Mexico City

MEXICO CITY (Reuters) – Annual inflation in Mexico likely sped up during the first half of February to its highest rate in three months, due mostly to rising energy prices, a Reuters poll showed on Tuesday.

The median forecast of 10 analysts polled was for inflation to rise to 3.88% in the first half of this month from 3.74% in the second half of January.

If the estimate proves correct, it would mark the highest level for rising consumer prices since the 4.09% inflation rate during the second half of October.

During the first two weeks of February, inflation likely edged up 0.27% compared with the second half of January.

Core inflation, which strips out volatile energy and food prices, is seen increasing by 0.22% during the first half of February, according to the poll’s median forecast.

Core annual inflation was expected to come in at 3.84%, the survey showed.

Mexican national statistics agency INEGI is set to publish the latest inflation data on Wednesday morning.

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