UPDATE 1-Mexico consumer prices rise 0.71 pct in March

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MEXICO CITY, April 8 (Reuters) - Mexican consumer prices MXINFL=ECI rose 0.71 percent in March, the central bank said on Thursday.

Closely watched core inflation MXCPIX=ECI, which strips out some volatile food and energy prices, was up 0.36 percent during the month.

Consumer prices rose 4.97 percent in the 12 months through March MXCPIA=ECI.

Analysts polled by Reuters had expected headline inflation to rise 0.71 percent and core inflation to climb 0.35 percent in the month.

Mexico is emerging from its deepest recession since the 1930s, with analysts forecasting 4.1 percent economic growth this year after a 6.5 percent contraction in 2009, according to an April 5 central bank poll.

Many economists expect Mexico's central bank will wait until at least mid-year to raise interest rates. (Reporting by Patrick Rucker)