October 9, 2018 / 2:26 PM / 6 months ago

UPDATE 1-Mexico annual inflation up in September, largely as expected

 (Adds background details, comparative data)
    MEXICO CITY, Oct 9 (Reuters) - Mexican annual inflation rose
in September, largely as expected, official data showed on
Tuesday, days after the central bank cautioned it may need to
raise its key interest rates due to the threat of persistently
high inflation.
    Inflation in the 12 months through September rose 5.02
percent, the national statistics agency, INEGI, said. That was
just a touch above estimates in a Reuters poll for a 5.01
percent increase, but up from 4.90 percent a month earlier.
    Annual inflation has increased every month since June.
    The Bank of Mexico held interest rates steady at its Oct. 4
monetary policy meeting, though a policymaking member called for
a 25-basis-point hike due to concerns over above-target
    The central bank said in a statement after the meeting that
it would "take the necessary actions, specifically, maintaining
or possibly strengthening the current monetary policy stance so
that headline inflation converges" towards the central bank's 3
percent target rate.
     The country's closely watched annual core inflation rate,
which strips out some volatile food and energy prices, was up
more than expected at 3.67 percent in September, against
expectations for a 3.62 percent rise.
    Consumer prices rose 0.42 percent in September from the
prior month, while the core index climbed 0.32 percent.

 (Reporting by Anthony Esposito; Editing by Bernadette Baum)
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