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Reuters Poll Shows Mexico Inflation At 8.71% In The First Half of September

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Reuters Poll Shows Mexico Inflation At 8.71% In The First Half of September

(CTN News) _ A Reuters poll on Monday showed that Mexico’s inflation likely slowed in the first half of September, but remained above target, indicating that the central bank will keep raising interest rates.

Taking into account 17 analysts’ forecasts, it is predicted that annual inflation will be 8.71%, down from 8.77% in the second half of August,

When it reached its highest level since late 2000, when it reached its highest level ever.

Groupo Financiero Banorte stated that “the dynamic will remain mostly unfavorable, with additional pressures on goods – particularly food – but a moderated effect on energy,

Which will positively affect price outcomes in the near future.”

The Bank of Mexico, or Banxico as it is known, targets inflation at 3% plus or minus one percentage point, and has raised its benchmark interest rate by 450 basis points over the last 10 monetary policy meetings.

The next decision of the bank is scheduled for September 29.

In the first month of the month, annual core inflation is anticipated to reach 8.28%, excluding some volatile food and energy prices.

According to Reuters’ survey, Mexico consumer prices increased by 0.37% in the first half of September compared to the previous half-month period, with core inflation rising by 0.44%.

The Mexico national statistics agency INEGI will publish consumer price data for the first half of September on Thursday.

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