Mexico inflation hits 2-1/2-year high in early Sept

Reuters, 9/24/12

Mexican inflation accelerated in early September to its fastest rate in 2-1/2 years, but the pick-up was less than expected by analysts and most policymakers have said they expect the spike to be temporary. Annual inflation accelerated to 4.73 percent in early September from 4.57 percent for the full month of August, driven by rising egg, chicken and tomato prices as well as higher education costs, the national statistics agency said on Monday.The rate was less than the 4.82 percent rate projected in a Reuters poll, reflecting a surprise drop in fixed-line telephone rates, analysts said.Nonetheless, the annual inflation rate marked its highest level since March 2010, and it was the fourth month it topped the central bank’s 4 percent limit for acceptable price increases.

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