(Adds details of inflation print)

MEXICO CITY, July 22 (Reuters) – Mexico’s annual inflation rose 5.75% through the first half of July, data released by the national statistics agency showed on Thursday, accelerating slightly from the previous period.

Consumer prices were up by 0.37% in first two weeks of the month versus the last two weeks of June, the data showed.

A median forecast of 19 analysts had forecast inflation ticking down to 5.65% for the first two weeks of July, compared with 5.74% in the second half of June.

The Bank of Mexico, or Banxico, targets an inflation rate of 3% with a tolerance threshold of one percentage point above and below that level.

It raised the benchmark interest rate by 25 basis points last month, putting it at 4.25%, saying the move was necessary to avoid adverse effects on inflation expectations. (Reporting by Frank Jack Daniel; Editing by Noe Torres)

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