NewsLatin AmericaInflation in Mexico moderates, but continues to put pressure on the pocket, standing at 8.14% in November

Inflation in Mexico moderates, but continues to put pressure on the pocket, standing at 8.14% in November

Inflation in Mexico continues to slow down, but it is still tightening the pocket of consumers, mainly in terms of the cost of food. According to the National Consumer Price Index (INPC) for the first half of November prepared by the Inegi, the annual inflation rate stood at 8.14% per year, thus adding five fortnights downward after reaching one of its points highest in August of this year.

Although the data seems encouraging for economic analysts, who forecast a rate of 8.25% for the first half of November, the price of food continues to place Mexican finances on the ropes, with an increase of 14.10 % in the category of food, beverages and tobacco. Core inflation —which does not take fresh food or energy into account due to their volatility— continues to rise, standing at 8.66% at an annual rate in contrast to 8.45% in the previous fortnight, far from the target of the Bank of Mexico.

The price of electricity was the one that registered the greatest increase at the beginning of November, with an increase of 20.29%, followed by air transport with 12.93% and Serrano chili with an increase of 26.11%. In contrast, onion prices fell by 13.02% and domestic liquefied petroleum gas (LP) fell 1.32%.

“Despite the fact that the pace of increases in merchandise prices has slowed, it continues to be early evidence of a decrease in inflationary pressures and not that the upward risks for inflation have disappeared,” says Gabriela Siller, director of financial analysis of Base Group.

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