After the presidential election, inflation reached 4.78% in the first half of June

MEXICO CITY (apro).- The National Institute of Statistics and Geography (Inegi) today presented the data of the National Consumer Price Index (INPC) during the first half of June, which coincided with the holding of the presidential election in the country. The aforementioned data indicates that there was an increase of 0.21% compared to the previous fortnight, so with this result inflation stood at 4.78%.

“In the same fortnight of 2023, the biweekly inflation was 0.02% and the annual inflation was 5.18%,” the agency said.

On the other hand, it revealed that the underlying price index increased 0.17% at a biweekly rate and 4.17% at an annual rate. The non-core price index registered an increase of 0.34% biweekly and 6.73% at an annual rate.

During this period, prices of goods grew by 0.19% and those of services by 0.14%.

The products that increased the most in price were chayote, which had a variation of 79.25%; orange with 19.29% and lettuce and cabbage with 15.37%.

In contrast, the products that had a decrease were grapes with -22.44%, serrano chili with -18.45% and tomato with -11.83.

It is important to note that the financial markets suffered a fall after the results of the election where candidate Claudia Sheinbaum was the winner; In the first days there were worried reactions due to concerns about the reform of the Judicial Branch.

The Secretary of the Treasury, Rogelio Ramírez de la O, who will remain in office during the Sheinbaum government, had announced at the beginning of the month that among the priorities of the next president will be the reduction of debt to around 3% of GDP and of the fiscal deficit, in addition to maintaining financial discipline, adhering to the rule of law and respecting the autonomy of the Bank of Mexico.

Ramírez de la O made the statement in an attempt to calm the markets after the nervousness that was unleashed after the victory of Sheinbaum and the ruling Morena party, which will have control of Congress.

Despite the secretary’s statements, volatility in the markets has persisted for more than two weeks, causing a depreciation of more than 5% of the peso. At the beginning of the day, the currency reported a slight depreciation that brought the price to 18.41 pesos per dollar.