Mexicans experienced the worst cost in January in more than 20 years

The Mexicans went through the biggest slope in January in more than 20 years, this according to what was recently reported by the National Institute of Statistics and Geography (Inegi), as we present to you in La Verdad Noticias.

During the first half of January, the National Consumer Price Index (INPC) increased 0.46 percent compared to the last half of 2022. With this, annual inflation was set at 7.94 percentthe largest price increase for the first half of January since 2001, when the registered increase was 8.37 percent.

Meanwhile, this caused an acceleration from the level reported during the second half of December, when consumer prices increased at 7.86 percent.

Inflation in Mexico exceeded predictions

The rise in inflation It is not something new, because every year there is price adjustments for various reasonsas is he increase in minimum wagehowever, analysts expected an acceleration like the one presented, since the data reported by the Inegi was higher than the rate of 7.87% expected by the market.

Within the report published by the institute it can be seen that core inflationwhich removes from its calculation the most volatile goods and services, had a rebound after three fortnights slowing down and continued as the greatest pressure for inflation.

Such was the case, that during the first fortnight of the year, subjacent inflation was located at 8.45 percent per year. Merchandise became more expensive 11.02 percentdue to an increase explained by the annual rates of 14.09 percent for food, beverages, and tobacco, as well as 7.57 percent for non-food merchandise.

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What is inflation?

Inflation is when there is a general increase in prices and not only when this happens in individual items, with the result that fewer goods and services can be purchased for each peso today than yesterday. Hence inflation is a factor that directly influences the value of the currency over time.

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