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Mexican inflation seen continuing easing streak in November

mexico-flagMEXICO CITY: Mexico's annual inflation rate is seen continuing to ease in November, after notching a 2-1/2 year high just two months earlier, according to a Reuters poll.

 

Annual inflation was expected to slide to 4.34 percent this month, according to the median of 12 analysts, down from October's 4.60 percent rate.

 

Mexico's annual inflation has slid off a 2-1/2-year high reached in September, backing the central bank's forecast of an easing in the price pressures that have plagued Latin America's No. 2 economy over the last five months.

 

Earlier on Friday, Mexico's central bank backed away from a threat to raise interest rates "soon" and left its benchmark rate at 4.5 percent, citing a confirmed downward trend in inflation.

 

Consumer prices were seen up 0.83 percent in November from October, while core prices are expected to rise 0.26 percent.

 

Copyright Reuters, 2012