Mexico inflation higher than expected in August

Mexican inflation was higher than expected in August, mostly due to a rise in gasoline and gas prices, official data showed on Friday.

Mexican consumer prices rose 4.90 percent in August, compared to 4.81 percent in July, and above the 4.83 percent, analysts had forecast in a Reuters poll.

The central bank hiked its inflation estimates for this year and next year at the end of August, predicting inflation would approach its 3.0 percent target by the first half of 2020.

Consumer prices rose 0.58 percent in August, according to non-seasonally adjusted figures.

The core index, which strips out some volatile food and energy prices, rose 0.25 percent during the month.