Gas, electricity, tortilla and avocado on the rise: inflation in Mexico has its highest rise in two decades and reaches 7.45%

Overall inflation in Mexico reached 7.45% per year, in an escalation driven by high prices of fuels such as domestic gas and gasoline, as well as agricultural products such as onions, avocados, omelets and eggs.

This is the largest inflation increase in the last 21 years in our country, as in January 2001 it reached 8.11%, according to records.

Other goods that suffered a significant increase at the end of the third month of the year were electricity, air transport and tourist packages.

This Thursday, the National Institute of Statistics and Geography (Inegi) reported that at the end of the third month of 2022, the National Consumer Price Index (INPC) showed a variation of 0.99% compared to the previous month. With this result, overall annual inflation stood at 7.45% and noted that in the same period in 2021 it was 4.67%.

He noted that within the non-core index, the prices of agricultural products grew by 1.23% and those of energy and tariffs authorized by the government 2.24% at a monthly rate.

In this way, Mexico chains 13 months outside the target range by Banco de México (Banxico) which is 3% with a variability range of plus/minus 1%.

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