Saturday, January 28, 2023

Inflation ends 2022 at 7.82%, its highest year end in 22 years

Mexican economy registered in december One rate of inflation 7.82 percent per annumAccording to Inegi, the data meant its highest year end since 2000.

Through 2022, Mexicans’ wallets face increases in the cost of goods and services linked to the end of the two years outside the Bank of Mexico’s (Banxico) target range of 3 percent +/- one point. percentage, the target set in 2003 and in which he managed to keep it on 11 occasions.

Although this was its highest closing year since 2000, the data was below the 7.88 per cent polled by analysts consulted citibanamex In his most recent survey.

There was a slight rebound with respect to November, as inflation stood at 7.80 per cent year-on-year in the last month of the year.

During December, the National Consumer Price Index increased by 0.38 per cent from the previous month, the lowest since May of that year. The market consensus indicated a rise of 0.44 per cent.

high inflation It has been a worldwide phenomenon, highlighting among its main factors the conflict between Russia and Ukraine that began in February 2022.

Core inflation settles at 8.35%

from the side basicwhich does not include goods and services with more volatile prices, such as agriculture, energy and government tariffs, was up 0.65 percent per month, and It rose to 8.35 per cent annually, its highest year-end level since 1999.

Still, there was a slowdown from November’s 8.51 percent annual level, so December’s data meant breaking a 24-month upward streak.

“In December, core inflation was 0.65% m/m, higher than the 0.64% expected by the market. This is the second highest for the twelfth month since 1999 and for 2021,” said Janeth, Deputy Director of Economic Analysis at Monex Queiroz wrote.

data breakdown, Goods prices increased by 0.74 percent, While services became costlier by 0.53 per cent in December as compared to the previous month.

,Risks remain despite lower core inflation risksSince the decline was partly due to a base comparison effect, December 2021 core inflation was much higher,” Gabriela Siller, director of economic analysis at Banco Base, wrote on Twitter.

Meanwhile, the non-built-in component It had declined by 0.40 per cent per month and stood at 6.27 per cent per annum. In 2021 it closes at 11.74 per cent per annum.

Agricultural product prices became 0.50 percent more expensive in December, and government-authorized energy and tariffs fell 1.15 percent monthly.

What was the highest price hike in December?

The products which were most affected by inflation in December serrano peppersWith a monthly growth of 39.65 per cent; Snack Bars, Fondas, Tortas & Taco Shops0.78 percent.

loss packaged soft drinks increased by 1.40 percent, and Tomato3.86 monthly percent in December, data from Inegi indicate.

In contrast, domestic LP gas declined by 4.91 per cent and low-octane gasoline by 1.06 per cent on a monthly basis.

Nation World News Desk
Nation World News Desk
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