MEXICO CITY New York Rangers Throwback Jersey , Sept. 7 (Xinhua) -- Mexico's inflation rate reached its highest level since 2001 in August, rising by 0.49 percent from the previous month and 6.66 percent year-on-year, according to a report by the National Institute of Statistics and Geography (Inegi).


In a statement on Thursday, the public body said that this high inflation was largely due to a rise in agricultural and fuel prices.


Inegi announced that the results in August were above the Central Bank's objective of 3 percent, and was the highest level seen in 2001, when a year-on-year hike of 6.95 percent was registered.


According to Inegi New Jersey Devils Throwback Jersey , agricultural prices rose by 2.06 percent while energy prices followed suit by 0.67 percent.


Despite this inflation rise, the Citibanamex financial group remains confident that Mexico will end the year with inflation of 6 percent.


"While we do not underestimate that the current results do carry risks for our 6 percent prediction for general inflation in 2017, we consider that it remains very feasible to achieve this result at the close of the year," said Eduardo Gonzalez, an economist for the group, in a statement.


Mexico's central bank stated in late August that inflation should drop sharply in 2018 Nashville Predators Throwback Jersey , in part due to interest rate hikes.


It predicted that inflation would stay above 6 percent for the coming months, before dropping to around 3 percent in the third quarter of 2018.


Since late 2015, the central bank has increased interest rates from 3 to 7 percent, in one of the more aggressive cycles by central banks worldwide, due to climbing prices.




BEIJING, Sept. 8 (Xinhua) -- The unexpected slowdown in China's export growth in August was caused by a strong yuan and the carryover effect Montreal Canadiens Throwback Jersey , economists said.


The country's exports in yuan-denominated terms rose 6.9 percent year on year in August while imports increased 14 percent, customs data showed Friday.


That led to a monthly trade surplus of 286.5 billion yuan (about 44 billion U.S. dollars), down 14 percent year on year, according to the General Administration of Customs.


Total foreign trade reached 2.41 trillion yuan last month, up 10 percent from a year earlier.


In the first eight months combined, exports increased 13 percent year on year while imports rose 22.5 percent Minnesota Wild Throwback Jersey , resulting in a 15-percent decline in trade surplus.


The slower trade growth in August was a result of a stronger yuan in recent weeks and a higher base in the second half of last year, according to Bai Ming, a researcher with the Chinese Academy of International Trade and Economic Cooperation.


The yuan has been on an upward trajectory against the U.S. dollar this year due to the weakening greenback and steady expansion of the Chinese economy.


The central parity rate of the Chinese currency strengthened to 6.5032 against the U.S. dollar on Friday, its strongest level since May 2016, according to the China Foreign Exchange Trade System.


International competition and foreign investment change also weighed on the exports slip, analysts said.


"Foreign-funded companies invested more in China's service industry Los Angeles Kings Throwback Jersey , which can serve local consumers but does not add to exports. This also played a part in the trade slump," Bai said. Latest data showed China's service trade deficit in the period reached 1.04 trillion yuan in the first seven months.


Bai expects the pressure for appreciation to ease, while predicting overall stable growth in foreign trade.


Liu Liu from China International Capital Corporation Limited said that the recent appreciation of the renminbi should not exert a large drag on exports.


"Since the U.S. dollar weakened significantly against other major currencies, the renminbi did not appreciate significantly against a basket of currencies... and it is unlikely to exert a large drag on exports," according to Liu, also noting that the yuan is still depreciating against a basket of currencies.


Liu further noted that the renminbi's appreciation against the U.S. dollar will help the rebalancing of China-U.S. trade.


In the first eight months Florida Panthers Throwback Jersey , trade with the United States, ASEAN and Japan rose by 19 percent, 19.9 percent and 15.4 percent, respectively.


During this period, China's foreign trade totaled 17.83 trillion yuan, up 17 percent year on year. Trade with the EU Detroit Red Wings Throwback Jersey , China's largest trade partner, climbed 16 percent from a year earlier to 2.71 trillion yuan.


A leading indicator of China's exports stayed flat month on month at 41.9 in August, signaling stable export potential.


Looking into the future, Liu said that economic fundamentals indicate improving external demand, but uncertainties in global trade still exist.


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