(Corrects month in paragraph 3)
Sept 9 (Reuters) – Mexico’s annual inflation rate accelerated for the first time in five months in August, official data showed on Wednesday, backing up a cautious approach in the country’s monetary policy.
Consumer prices in Latin America’s second-largest economy rose 3.26% in the year through August, accelerating from a 3.12% increase in July and but landing slightly below economists’ forecasts in a Reuters poll that expected a 3.3% increase.
In August alone, consumer prices increased 0.20%, following a 0.03% increase the prior month, according to non-seasonally adjusted figures, and compared with economists’ expectations of a 0.25% rise.
The closely watched core index, which strips out some volatile food and energy prices, rose 0.16% during the month, below a 0.20% market forecasts and down slightly from the 0.23% recorded the previous month.
The annual core rate stood at 3.88%, also slowing from the 3.95% registered in July and below expectations of a 3.93% increase.
(Reporting by Aida Pelaez-Fernandez and Ricardo Figueroa; Editing by Chizu Nomiyama)
Comments