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UPDATE 1-Mexico 1st-half Nov inflation seen at 0.51 pct

Wed Nov 21, 2007 1:43pm EST

(Adds detail, background)

MEXICO CITY, Nov 21 (Reuters) - Mexican consumer prices likely rose 0.51 percent in the first half of November, according to a Reuters survey of analysts on Wednesday.

Core inflation, which strips away some volatile food and energy prices, was seen at 0.16 percent, according to the median estimate of 20 analysts from banks, brokerages and consultants.

The analysts predicted inflation would be 0.61 percent for the full month of November, with core inflation seen at 0.32 percent in the same period.

Last month, the central bank surprised investors with a 25 basis point hike in its benchmark overnight rate to 7.50 percent, a measure meant to head off a potential inflation spike caused by higher prices for dairy products and other foods.

Mexico's central bank is due to report inflation data for the first half of November on Thursday at 9 a.m. local time (1500 GMT). (Reporting by Lizbeth Salazar; Editing by Theodore d'Afflisio)



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