October 9, 2017 / 1:58 PM / a year ago

UPDATE 1-Mexico annual inflation eases more than expected in September

 (Adds details on inflation)
    MEXICO CITY, Oct 9 (Reuters) - Mexico's annual inflation
rate eased more than expected in September, dipping to its
lowest level in three months, data from the national statistics
agency showed on Monday.
    Consumer prices rose 6.35 percent in the year through
September, the data showed, undershooting the 6.48 percent rate
forecast by a Reuters poll of analysts. In August, consumer
prices rose by 6.66 percent compared with same month in 2016.
    Annual inflation decelerated to its lowest level since a
6.31 percent rate in June.
    September was the first month the annual rate had come down
since June 2016, the agency's data showed.
    Mexico's benchmark interest rate is at its highest level
since early 2009 as the central bank seeks to counter a spike in
inflation to well above its 3 percent target.
    The central bank says it expects inflation to ease through
the coming months and head towards 3 percent during the second
half of next year.
    Consumer prices rose in September by 0.31 percent from the
previous month, less than the 0.44 percent forecast in the
Reuters poll, the agency's data showed.
    The core index, which strips out some volatile food and
energy prices, rose 0.28 percent during the month             .

 (Writing by Dave Graham; Editing by Meredith Mazzilli)
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