January 21, 2020 / 5:49 PM / a month ago

Mexico inflation likely inched up in early January - poll

MEXICO CITY, Jan 21 (Reuters) - Mexican annual inflation likely accelerated in the first half of January, a Reuters poll showed on Tuesday.

The median forecasts of 13 analysts was for inflation to have risen to a rate of 3.17% from 3.02% in the second half of December.

Mexico’s central bank targets inflation of 3%, and inflation dipped below that level last year. In December, the bank trimmed interest rates to 7.25%, marking the fourth straight rate cut.

Amid stagnant growth in the Mexican economy, analysts expect the central bank to continue cutting rates this year.

Compared to the previous month, consumer prices likely rose by 0.26% in the first half of January, according to the survey. The core price index, which strips out some volatile items, was seen rising by 0.19% on the month.

The national statistics institute will publish inflation figures for the first half of January on Thursday. (Reporting by Miguel Angel Gutierrez and Gabriel Burin; writing by Julia Love; Editing by Bernadette Baum)

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