November 22, 2019 / 2:02 PM / 20 days ago

UPDATE 1-Mexico inflation slightly above forecast in early November

(Adds details from inflation report, context)

MEXICO CITY, Nov 22 (Reuters) - Mexican consumer price inflation was slightly higher than expected in the first half of November, data from the national statistics agency showed on Friday.

In the year through early November, consumer prices rose by 3.10%, just above the consensus forecast of 13 economists polled by Reuters for a reading of 3.07%.

The figure compares with 3.03% in the second half of October and 3.01% in the first half of last month.

Compared with the previous two-week period, consumer prices rose by 0.68%, the agency’s data showed. That was slightly above the poll forecast for a reading of 0.65%.

The closely watched core price index, which strips out some volatile food and energy prices, climbed 0.16% in early November from the previous two-week period. That compared with a forecast for a reading of 0.19%. Mexico’s central bank targets an inflation rate of 3.0% with a one percentage point tolerance threshold above and below. (Reporting by Stefanie Eschenbacher)

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