September 6, 2019 / 6:05 PM / 2 months ago

Mexico's inflation seen slowing to lowest since October 2016: Reuters poll

FILE PHOTO: A customer shops inside a Walmart store in Mexico City, Mexico March 28, 2019. REUTERS/Edgard Garrido/File Photo

MEXICO CITY (Reuters) - Mexico’s annual inflation is forecast to have slowed to the lowest level in nearly three years, primarily because of lower prices for some energy and agriculture products, a Reuters survey showed on Friday.

Annual inflation MXCPIA=ECI is seen at 3.20% for August, according to a median forecast of 12 banks, brokerages and analysts. That would compare to annual inflation of 3.78% in July.

If August forecast is right, it would mark the lowest level since the 3.06% inflation rate registered in October 2016.

Monthly inflation in August would have risen 0.02%, the survey showed, while the forecast for core inflation would be 0.19% higher. MXINFL=ECI MXCPIX=ECI

The average forecast for annual core inflation, which strips out some volatile food and energy prices, is 3.77%. MXCCPI=ECI

Mexico’s statistics institute will publish inflation data for August on Monday.

Miguel Angel Gutierrez in Mexico City and Gabriel Burin in Buenos Aires; Writing by Stefanie Eschenbacher; Editing by Alistair Bell

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