In the first half of October, the cost of air transportation registered an annual increase of 19.68 percent, the highest for the same period since 1999, according to data from the National Institute of Statistics and Geography (Inegi). This increase responds mainly to the rise in the price of jet fuel as a consequence of the increase in the international cost of oil products, according to financial analysts, who do not rule out further increases in transportation due to the extension of the conflict in Israel.
Fernando Gómez, an economic analyst specialized in the airline sector, explained that the price of tickets will be affected by the increase in the cost of jet fuel, although its effect is not immediate.
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“It takes a few weeks for the increase (in prices) to be reflected, and when the price of jet fuel drops, normally the airlines no longer lower or adjust the price of the tickets,” he told El Sol de México.
He explained that airline companies cannot protect themselves against possible increases in raw materials with the advance purchase of fuel, as other companies in other sectors do.
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Marcos Arias, economic analyst at Grupo Financiero Monex, mentioned in a report that energy prices will continue to exert pressure and “the possibility of a rebound in agriculture for the next few weeks is not minor.”
In general terms, inflation was 4.27 percent in the first half of October, its lowest level since March 2021. In the underlying component, which excludes the most volatile products, it registered a rate of 5.54 percent. The food, beverages and tobacco segment had the highest annual variation, registering an increase of 7.05 percent. The rise in prices of sugar, beans, beer, as well as prepared foods in loncherías, taquitos, torterías and fondas stood out.
2023-10-25 11:00:00
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