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In the first half of April, general inflation in Mexico rose to 4.63 percent, as a consequence of higher prices for fruits and vegetables, according to the National Institute of Statistics and Geography (Inegi).
This is the highest level for inflation since the second half of January, when the indicator was 4.87 percent.
When releasing the National Consumer Price Index (INPC), Inegi stated that inflation was pressured by the cost of fruits and vegetables, which rose 18.22 percent annually during the first half of April.
In particular, the case of tomato, green tomato and serrano pepper stands out, which increased in price between 12 and more than 30 percent in the reference period.
In addition, the price of food in inns, taquerias, lunch shops and restaurants continued as one of the main services with the highest prices, increasing by 0.39 percent compared to the same fortnight last year.
According to analysts from Citibanamex and Grupo Financiero Ve Por Más, the rise in costs in these segments is a consequence of droughts or slight increases in the international cost of crude oil, which in turn puts pressure on the price of gasoline and electricity.
The Inegi added that the price increase was more visible in entities such as Michoacán, Tlaxcala, Puebla, Durango and the State of Mexico.
The reported inflation of 4.63 percent was above the estimate of analysts consulted by Citibanamex, who expected a level of 4.47 percent. For the entire month of April, the consensus estimated 4.39 percent.
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In addition, 75 consecutive fortnights were accumulated outside the target range of the Bank of Mexico (Banxico), which ranges from two to four percent.
By the end of the year, the consensus of experts consulted by Citibanamex predicts that this indicator will decrease to 4.10 percent, while by 2025 a level of 3.70 percent is anticipated.
2024-04-24 12:47:47
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