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Inflation reaches 7.88% in the first half of June: Inegi

June 23, 2022
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Inflation continued its upward run during the first half of June, its highest level in more than 21 years, driven by increases in the prices of agricultural goods, bread, tortillas, electricity and natural gas, among othersreveal the data published by the National Institute of Statistics and Geography (Inegi).

In the first fortnight of June 2022, the National Consumer Price Index grew 0.49% compared to the previous fortnight. With this result, annual headline inflation stood at 7.88%the highest rate since the first half of January 2001.

Among the goods and services that reported the greatest increases, the food group stands out againwhich reported an annual increase of 13.08% in the first half of June, its largest increase since the first half of September 1999, when it reported a rise of 13.68 percent.

inside the increases in the prices of wheat flour stand out, with an annual rise of 27.65%; white bread, 24.19% and corn tortilla, 14.57% in the reference period.

Among the fruits and vegetables with greater increases are the potato, with an annual rise of 46.13% in the first half of June; green beans, 25.56%; watermelon, 22.92%; orange, 20.47%; chayote, 15.05%; and dried chili, 13.07 percent.

Regarding meat and poultry products egg cases stand out, with an annual increase of 21.13%; chicken, 17.33%; beef, 15.64%; and fish, 14.07 percent.

In the energy sector, natural domestic gas stands out again, with an annual increase of 18.66%; electricity, 10.64%; as well as regular and premium gasoline with increases of 7.71% and 7.22% respectively, despite the government subsidy.

On the other hand, tourist package services, which rose 17.62% within the framework of the vacation period, as well as automobile insurance, with an increase of 10.14 percent.

The underlying price index, which includes goods and services whose prices are less volatile, increased 0.50% at a fortnightly rate and 7.47% annually, its highest rate since the second half of 2000. Within it, the prices of merchandise increased 0.64% and those of services, 0.33% at a fortnightly rate.

In the same period, the non-core price index rose 0.49% fortnightly and 9.13% at an annual rate. Within the non-core index, at a fortnightly rate, the prices of agricultural products grew 0.85% and those of energy and tariffs authorized by the government, 0.19 percent.

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Tags: Increase to basic productsInegiInflationJuneMexican EconomyPersonal financereaches

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