August 19, 2019 / 6:06 PM / a month ago

Mexico's inflation seen slowing to lowest since end 2016: Reuters poll

FILE PHOTO: A man counts money to pay meat products at Granada market in Mexico City, Mexico, January 10, 2017. REUTERS/Tomas Bravo/File Photo

MEXICO CITY (Reuters) - Mexico’s annual inflation is forecast to have slowed in the first half of August to its lowest level since the end of 2016, primarily due to lower prices for energy and agricultural products, a Reuters survey showed on Monday.

Annual inflation MXCPHI=ECI is seen at 3.59% for the first two weeks of August, according to the median forecast of 10 analysts.

That would be the lowest inflation reading since the 3.24% registered in the second half of December 2016, and compares with 3.72% during the second half of July.

For core inflation MXCPIC=ECI, which strips out some volatile food and energy prices, analysts expect an annual rate of 3.81%.

During the first two weeks of August, consumer prices would have risen by 0.20%, while the core index would have risen by 0.16%, according to the poll. MXCPIF=ECI MXCPIH=ECI

Mexico’s statistics institute will publish inflation data for the first half of August on Thursday.

Reporting by Miguel Angel Gutierrez; writing by Anthony Esposito; editing by Jonathan Oatis

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