December 7, 2018 / 2:50 PM / 4 days ago

UPDATE 1-Mexico inflation cools less than expected in November

 (Recasts with expectations for rate hike, adds background)
    MEXICO CITY, Dec 7 (Reuters) - Mexico's inflation rate
cooled less than expected in November, the national statistics
agency said on Friday, backing expectations that the central
bank will hike rates again this month.
    Mexican consumer prices rose 4.72 percent in the year
through November             , compared with expectations for a
rate of 4.63 percent in a Reuters poll and October's 4.90
percent rate.
    A poll by Citibanamex this week and yields on Mexican
interest rate swaps          projected Mexico's central bank
will raise its benchmark interest rate by 25 basis points to a
10-year high of 8.25 percent on Dec. 20.            
    Mexico's central bank tightened borrowing costs last month
and warned that potential policies from the new government of
leftist President Andres Manuel Lopez Obrador could fan
inflation higher.             
    The central bank targets an inflation rate of 3 percent.
    Consumer prices              rose 0.85 percent in November,
according to non-seasonally adjusted figures, the statistics
agency said. 
    The core index, which strips out some volatile food and
energy prices, rose 0.25 percent during the month             .

 (Reporting by Michael O'Boyle; Editing by Jeffrey Benkoe)
  
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