Inflation stands at 7.22% in the first half of February – El Financiero

ANDl National Consumer Price Index (INPC) accelerated and registered an annual variation of 7.22 percent in the first half of February 2022, driven by domestic LP gas and low-octane gasoline, the National Institute of Statistics and Geography (Inegi) reported on Thursday.

The INPC registered its first increase after presenting four consecutive fortnights with decreases and its highest level since the second half of December 2021when it stood at 7.26 percent per year.

The inflation it is 23 consecutive fortnights above the target range set by the Bank of Mexico (3 percent, +/- one percentage point).

The underlying price index, which is the one that excludes products with high price volatility from its accounting, stood at 6.52 percent at an annual rate, the highest level since the first half of July 2001, when it registered 6.61 percent.

Inside, the service prices they stood at 4.59 percent, while the rise in merchandise prices was 8.23 ​​percent.

Meanwhile, the non-core balancewhich accounts for products that present high volatility in their prices, such as agricultural products or fuels, stood at 9.33 percent at an annual rate, an acceleration after four fortnights decelerating.

In a disaggregated way, the prices of agricultural products presented a variation of 15.79 percent, while that of energy and rates authorized by the Government was 4.72 percent, this compared to the same period last year.

On the other hand, the price index of the minimum consumption basket registered a fortnightly reduction of 0.46 percent, but an annual increase of 7.77 percent.

In its comparison with the immediately previous fortnight, the INPC stood at 0.42 percent, the highest since the second fortnight of November 2021.

What were the products with the highest rise?

Among the products that had the greatest increase in domestic LP gas (3.02 percent); low octane gasoline (0.51 percent); automobiles (1.19 percent); beef (1.03 percent); lunch shops, inns, torterías and taco shops (0.48 percent) and chicken (1.08 percent).

On the contrary, the products that presented a decrease in their prices were tomato (10.28 percent); potato and other tubers (3.91 percent); poblano chili (19.32 percent); calabacita (11.29 percent) and televisions (1.63 percent).

By state, the ones that had the greatest increase in prices were Quintana Roo (0.91 percent); Nuevo Leon (0.79 percent); Hidalgo (0.76 percent) and Campeche (0.72 percent).

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