Monday, October 2, 2023

Inflation in Mexico slows to 6.0% in the first half of May 2023

The Inflation in Mexico continues its downward trend after getting used to it 6% in the first half of May 2023 reported the National Institute of Statistics and Geography (Inegi), with which reached its lowest level in 20 months supporting the prospect of it steadily weakening after hitting a two-decade high last year.

The decline in the National Consumer Price Index (INPC) was 0.32% compared to the previous two weeks, reaching an annual rate of 6%, it said lowest level since the first half of September 2021 although it still doubles the official goal of the Bank of Mexico.

The Inegi reported that the underlying price index recorded an increase of 0.81% on a bi-weekly basis and 7.45% on an annual basis. This is where it is located Goods prices increased by 0.17% and services prices increased by 0.19%.

Meanwhile, the non-core price index fell 1.85% for two weeks and rose 1.70% year-on-year; With this Prices of agricultural products fell by 0.52% and prices of energy and government-approved tariffs fell by 2.99%..

Products that influenced inflation in May 2023

The products whose prices increased in the first half of May 2023 and that influenced inflation Ueron:

  • Potatoes and other tubers, with a variation of 7%
  • Air traffic with an increase of 4.58%
  • Orange, up 3.48%
  • Sugar, with an increase of 2.25%
  • Pet food with an increase of 1.15%

Product decline in the first half of May 2023

Several in the first half of May 2023 Products experienced a decrease in price including:

  • Electricity, with a decrease of 21.22%
  • Limón, with a decrease of 16.63%
  • Green tomato, with a decrease of 4.12%
  • Laundry washing machines, with a decrease of 3.64%
  • Tourist package services with a decrease of 2.90%
Nation World News Desk
Nation World News Desk
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