Mexico early-January prices rise faster than expected

MEXICO CITY: Mexican consumer prices rose 3.33% in the year through the first half of January, beating expectations, according to data published on Friday by the INEGI national statistics agency.

The median forecast of 12 analysts polled by Reuters was for inflation to tick up to 3.17% in early January from 3.08% in the second half of December, the lowest level since May.

In the first half of January, consumer prices increased 0.51% from the previous two-week period, INEGI said, above expectations for a 0.34% rise.

The closely watched core price index, which strips out some volatile food and energy prices, climbed 0.24% in early January.

Core annual inflation registered a rate of 3.83%.