MEXICO CITY: Mexico’s annual inflation is expected to accelerate to its highest level in more than 16 years, according to a Reuters poll ahead of August data set to be released later this week. The price spike is expected to be driven by increases for educational services, gasoline, natural gas and agricultural products, according to the poll. A survey of 15 banks, brokerages and consulting firms forecast a median annual inflation rate of 6.65 percent for August, coming off of a 6.44 percent rate in July. If confirmed, the figure would mark the highest level of inflation since the 6.95 percent registered in May 2001.
Just in August, the general index of consumer prices is expected rise by 0.48 percent, while the median projection for core inflation was an increase of 0.28 percent, according to the poll. For core inflation, a 5.03 percent annual rate is expected. The August data is set to be published by Mexico’s statistics agency INEGI on Thursday at 1:00 p.m. GMT.
