The consensus forecast of 11 analysts surveyed was for inflation to advance to 7.51% from 7.37% in November. If the prediction is correct, that would be the highest rate seen since January 2001, when inflation hit 8.11%.
The core rate of inflation, which strips out some volatile food and energy items, was seen accelerating to 5.94%, which would be the highest since October 2001.
The Bank of Mexico (Banxico) raised its benchmark interest rate more than expected last month to 5.50% as it sought to contain rising price pressures.
Banxico’s next monetary policy meeting is scheduled for Feb. 10. The bank targets inflation of 3%, with a one percentage point tolerance range above and below that.
Compared to the previous month, Mexican consumer prices are estimated to have increased by 0.51% in December with the core price index seen advancing 0.76%.
Higher costs for some processed foods, livestock products and other merchandise were seen driving inflation.
Mexico’s national statistics agency will publish the latest inflation data on Friday morning.
Source: Economy - investing.com
