Wednesday, November 29, 2023

Inflation in Mexico decreased to 4.45% in September 2023

In a statement, it was explained that the National Consumer Price Index (INPC) presented an increase of 0.44 percent compared to the previous month. In the same month of 2022, the monthly inflation is 0.62 percent and the annual inflation is 8.70 percent.

The underlying price index is considered a better parameter to measure the total lack because it eliminates highly volatile items, showing an increase of 0.36 percent per month and 5.76 percent per year.

non-core price index It has a difference of 0.70 percent of a monthly rate and 0.60 percent of an annual rate.

Within the underlying index, at a monthly rate, the prices of goods increased by 0.31 percent and the prices of services increased by 0.43 percent.

Within the non-core index, at a monthly rate, prices of agricultural products increased by 0.84 percent, and energy prices and tariffs allowed by the government increased by 0.57 percent.

The price index of the minimum consumption basket, consisting of 176 products and services, had a monthly growth of 0.63 percent and an annual growth of 4.01 percent. In the same period in 2022, the corresponding figures are 0.77 and 9.60 percent, in that order.

The items with the largest year-over-year increases were restaurants and hotels (8.55%), miscellaneous goods and services (7.95%), and health (6.61%).

The generic products with the highest increase in the month are lemon (33.79%), carrot (25.17%), and tomato (10.28%).

Consumer prices closed 2022 with an increase of 7.82 percent, the highest level in 22 years and the century for the end of the year.

The September data was more than the 3 percent annual goal of the Bank of Mexico, which maintained the interest rate at a record of 11.25 percent.

World Nation News Desk
World Nation News Desk
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