Mexico City. Mexico registered an annual inflation in March of 4.42 percent, driven by the increase in prices of chicken, air transportation, gasoline, housing, lunch shops, and packaged tourist services, mainly.
According to the latest report from the National Institute of Statistics and Geography (Inegi), the country’s general inflation increased slightly from February to March, going from 4.40 percent to 4.42 annually, the highest level since January. The variation in March was the lowest for a third month of the year since 2020, when it was 3.25 percent.
Inflation in the country has accumulated 37 months outside the price stability objective of the Bank of Mexico (BdeM) of between 3.0 and 4.0 percent.
In monthly terms, inflation increased 0.29 percent in March, its highest increase since the beginning of the year.
Regarding the price increases during the month of March, those of chicken stood out, with a monthly variation of 8.45 percent and an impact on inflation of 0.133 points; air transport rose 28.35 percent, with a contribution of 0.065; low octane gasoline increased 0.78 percent; own home, 0.36; lunch shops, 0.65; packaged tourist services, restaurants, lemon and serrano chili increased 7.23, 0.61, 8.45 and 13.15 percent, respectively.
On the other hand, onion, tomato, LP domestic gas, nopales, and zucchini showed falls of the order of 19.89, 12.46, 2.37, 26.86, 12.56 percent, in that order.
The underlying price index, which excludes energy and fresh food from its calculation, as well as determines the trajectory of prices in the medium and long terms, increased 0.44 percent at a monthly rate and 4.55 percent at an annual rate. The non-core price index, which includes agricultural and energy products, showed a monthly drop of 0.16 percent and an annual increase of 4.03 percent.
Within the underlying index, at a monthly rate, merchandise prices rose 0.22 percent and services prices rose 0.69 percent.
Within the non-core index, at a monthly rate, the prices of agricultural products decreased 0.53 percent and those of energy and tariffs authorized by the government grew 0.16 percent.
To the producer
In March 2024, the total national producer price index (INPP), including oil, increased 0.85 percent at a monthly rate and 2.04 percent at an annual rate. In the same month of 2023, it increased 0.21 percent at a monthly rate and 1.81 percent at an annual rate.
By groups of economic activities, at a monthly rate, primary prices grew 3.22 percent; those of secondary schools, 0.54 percent, and those of tertiary activities, 1.02 percent.
The index of intermediate use goods and services, including oil, rose 1.52 percent at a monthly rate and 1.03 percent at an annual rate.
In the reference month, the index of final goods and services, including oil, rose 0.59 percent at a monthly rate and 2.44 percent at an annual rate.
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– 2024-04-12 06:40:09
