Inflation rises in the first half of June, reaching 4.78%

Inflation skyrocketed in the first half of June to reach 4.78 percent annually, while in the second half of May it had been 4.59 percent.

The National Institute of Statistics and Geography (Inegi) released the results of the National Consumer Price Index (INPC). Its objective is to measure the variation in prices of a basket of goods and services representative of the consumption of Mexican households purchased by an average urban consumer.

In the first fortnight of June 2024, the INPC presented an increase of 0.21% compared to the previous fortnight. With this result, annual general inflation stood at 4.78 percent. In the same fortnight of 2023, biweekly inflation was 0.02% and annual inflation was 5.18 percent.

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.

Within the underlying index, at a biweekly rate, the prices of merchandise grew 0.19% and those of services, 0.14 percent.

Within the non-core index, at a biweekly rate, the prices of agricultural products rose 0.56%and those of energy and rates authorized by the government, 0.13 percent.

Inegi reported that in the first half of June 2024, the Consumer Price Index of the Minimum Consumption Basket (IPCCCM) decreased 0.04% biweekly and increased 4.35% at an annual rate. In the same period of 2023, these variations were -0.06 and 5.18%, in that order.

Mariano Serna Muñoz, president of the National Chamber of Commerce (Canaco) in Torreón, mentioned that the annualized inflation of 4.78% directly impacts the prices of goods and services, which can be observed based on the increases that the basket has had. basic.

“There are already products that are too expensive, many due to water problems, others face organized crime problems, as is happening in Michoacán, that directly impacts the tables of all families in the country, it is something that worries us, that It also generated increases in interest rates, which is also making credit to merchants much more expensive,” he explained.