Revenues from goods and services fell 2% at monthly rate: Inegi

This Thursday, the National Institute of Statistics and Geography (Inegi) released the results of the Monthly Services Survey (EMS), the results of which revealed that the total real income from the supply of goods and services from private non-financial services registered a 2% decrease at the rate monthly.

Inegi explained that last January, at a monthly rate, real total remuneration increased by 1.5 per cent, total staff employed 1 per cent and total expenditure for consumption of goods and services fell by 1.6 per cent

Within the report, the National Institute of Statistics and Geography specified that during the first month of the year and at an annual rate, the aggregate index of total real income from the supply of goods and services rose 6.8%, that of total expenditure on consumption of goods and services grew by 5.1%, the index of total remuneration was increased by 5.1%, the total remuneration index was decreased by 19 per cent, while that of total employed personnel fell by 14.5 per cent, with seasonally adjusted figures.

While in seasonally adjusted figures, Inegi reported that in January 2022 and compared to December 2021, total real revenues from the supply of goods and services from private non-financial services decreased by 2%, real total remuneration increased by 1.5%, total employed personnel increased by 1% and total expenditure on consumption of goods and services fell by 1.6%.

The sectors of private non-financial services that grew in total revenues in January 2022 were: Transport, post office and storage (2.4% compared to December 2021 and 25.5% compared to January 2021); health and social care services (1.8% compared to the previous month, while which had a decrease of 3.2% compared to January 2021); educational services (1.6% compared to the previous month and a variation of 14.4% compared to the same month in 2021).

In contrast, the non-financial private services sectors that had the lowest growth in January 2022 in total revenues were: professional, scientific and technical services, which had a variation of -7.1% compared to the previous month and a decrease of -1.2% compared to January 2021).

Another private non-financial service that affected its total income was that of real estate services and rental of movable and intangible property, which fell by -4.0% compared to the previous month, but a variation of 12.3% compared to January 2021.

On the other hand, this Thursday, Inegi announced the National Consumer Price Index (INPC), which continues its upward trend.

He explained that in the first half of March 2022, general inflation grew by 0.48% compared to the previous fortnight, so the annual rate stood at 7.29%.

He explained that the prices of agricultural products grew by 0.24%, that of energy and tariffs authorized by the government 1.35% at a biweekly rate.

The overall price increase was 0.48% compared to the last half of February, a rise of less than 0.52% predicted by some analysts.

Core inflation, which eliminates the prices of the most volatile products, increased by 0.35% biweekly and 6.68% annually. This increase is also slightly below what is expected by the market.

However, prices continue to grow at a higher rate than the average for the last 10 years.

The products that had a slight increase in their prices were domestic gas LP, low-octane gasoline, electricity, air transport, while in food there was an upward variation in tortilla, egg, onion, avocado, as well as restaurants.

In contrast, products such as lemon, chicken, potato and chayote had slightly low prices.

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