MEXICO CITY (Reuters – Mexican inflation likely slowed slightly in April’s first half but remained high above central bank target. On Wednesday, a Reuters poll indicated that Mexicans are still betting on the monetary authority to continue increasing interest rates.

Ten analysts polled predicted that inflation would reach 7.60%. This is slightly lower than the 7.62% forecast in March’s second half.

Core inflation (which excludes volatile foods and energy) was at 7.06%. This is its highest point since 2001.

With a target inflation of 3% and a range of one percent points above or below, the Bank of Mexico has raised its benchmark rate 250 basis point to 6.50% at its seven most recent monetary policies meetings.

Their next decision will be made in May 12.

According to the latest poll by the central bank, analysts have predicted that the end of the year’s lending rate will be 8%.

According to the poll, Mexican consumer prices will have risen by 0.07% compared with the last two weeks. However, core prices were expected to increase by 0.34%.

On Friday, Mexico’s national statistical agency will release data on the consumer price index for the first 15 day of April.