The increase in prices of products and services continues to be unstoppable in Mexico. This Wednesday, the National Institute of Statistics and Geography (Inegi) announced that during the first fifteen days of August, the National Consumer Price Index increased 0.42% compared to the previous fortnight, so inflation reached 8.62%.
According to Inegi, this is the highest rate for that period since 1998, when it reported an increase of 0.52%.
Within the report, the National Institute of Statistics and Geography detailed that the underlying price index -from which goods and services whose prices are more volatile are eliminated- grew 0.49% at a fortnightly rate, while on an annual basis it reached 7.97%.
In the same period, the non-core price index rose 0.22% fortnightly and 10.59% at an annual rate.
Within the underlying index, at a fortnightly rate, the prices of merchandise increased by 0.72% and those of services, by 0.22 percent.
Meanwhile, Inegi pointed out, within the non-core index, at a fortnightly rate, the prices of agricultural products grew by 0.45% and those of energy and tariffs authorized by the government, by 0.03%.
The price increase in the first half of August was above the consensus of the analysts consulted by Citibanamex, who estimated an increase of 8.51% at the annual rate.
Inegi explained that within the National Consumer Price Index, food products continue to be those that have had the greatest impact on prices.
Of them, the onion is the food that increased the most, having a fortnightly variation of 37.66%, followed by the potato and other tubers (2.36%), the corn tortilla ( 1.56%), other cooked foods (1.41%) as well as products in lunch shops, inns, torterías and taquerías (0.73%)
Among the services that most increased their prices are high school (1.97%), University (1.19%), as well as own housing (0.13%).
According to Gabriela Siller, director of Economic Analysis of Grupo Financiero Base, highlighted that food merchandise reached annual inflation of 12.73% in the first half of August, which represents a new maximum since the second half of December 1999.
Subscribe here to receive our newsletters, access exclusive content, read our news without ads, and much more!
Trending news of PVDN
- Woman’s corpse found handcuffed and gagged in Puerto Vallarta hotel room A woman was found dead Tuesday afternoon inside a Puerto Vallarta hotel. Under the established protocols, personnel from the Regional Prosecutor’s Office began an investigation around the discovery of the lifeless body, which was generated after the report that inside a hotel room, located on Avenida México and Guerrero, in the Las Mojoneras neighborhood, the…
- Jalisco Nueva Generación Cartel controls 78% of money laundering in Mexico The Jalisco Nueva Generación Cartel (CJNG) has placed itself at the head of the Mexican drug economy, establishing the largest number of businesses to launder money, and unlike other cartels, it went from the real estate business, typical of drug trafficking, to diversifying into money laundering businesses. that few would suspect. An investigation by MILENIO,…
- Mexico’s army will remain on the streets and beaches of Mexico until 2028 It was on Tuesday, October 4, when the Senate of the Republic approved the reform to the National Guard, which establishes that it will be used in public security until 2028 under the direction of the Secretary of National Defense ( Sedena ). After a debate of more than eight hours, the senators of the…
- The United States is going after American citizens in Mexico, and Latin America, trying to evade taxes The Internal Revenue Service’s Criminal Investigation unit said on Thursday it has located 79 tax evasion fugitives in Mexico, Belize, El Salvador, Guatemala, and Honduras in the first year of a new extradition initiative. The effort was made possible by a change in Mexico’s tax laws in 2020 that made tax evasion a felony offense…
- Mexico’s president slams the nomination of Ukrainian president Zelenski for the Nobel Peace Prize Staying to true form in his disdain for Ukraine, Mexican President Andrés Manuel López criticized the members of the European Parliament who nominated his Ukrainian counterpart, President Volodímir Zelensky, for the Nobel Peace Prize this year. During the morning press conference on October 5, the Mexican president affirmed that there are other people who deserve…