World Economic outlook - Mexico inflation rate forecast 2012-2013 : Analysts following Mexico's economy sharply raised their forecast for inflation this year for the second straight month, the central bank said on Wednesday.
Analysts in a monthly poll of 27 economists, banks and brokerages forecast an average 3.91 percent annual increase in consumer prices this year, up from a 3.81 percent rise expected in the last monthly poll.
In the previous poll, analysts raised the outlook by 16 basis points.The annual inflation rate in Latin America's second biggest economy hit a 1-1/2-year high of 4.45 percent in early July, fueled by rising food prices. In June, inflation climbed above the central bank's ceiling of 4 percent.
Policymakers predict only a temporary inflation spike, and are expected to keep the benchmark interest rate at 4.50 percent this year to protect Mexico from the risk of a deeper global slowdown.
The peso's second-quarter dive raised concerns that higher import prices could boost inflation further. But inflation estimates for 2013 ticked down to 3.65 percent from 3.69 percent, suggesting analysts do not see major pressure on inflation from continued peso weakness.
The poll showed a forecast of 3.71 percent for economic growth this year, compared to estimates in the last poll for 3.72 percent. Analysts trimmed their growth forecast for 2013 to 3.40 percent from 3.42 percent.
The pace of growth in Mexico's manufacturing sector slowed slightly in July, a separate survey showed on Wednesday, but the data still pointed to further expansion in factory activity in the coming months. source .reuters.com
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