Mexico Experiences the Worst Inflation in Over 21 Years Angelica Tova - Tribuna de la Bahia
go to original April 8, 2022

During the month of March, annual inflation stood at 7.45%, which represents its highest level in 21 years.

The National Institute of Statistics and Geography (Inegi) reported that gasoline, LP gas, air transportation, avocado and eggs had the highest price increases.

Inegi figures indicate that in March 2021, monthly inflation was 0.83% and annual inflation was 4.67%. In monthly comparison, the National Consumer Price Index had a variation in March of 0.99% with respect to February.

This inflation represents 13 consecutive months outside the range set by the Bank of Mexico, which was 3% +/- one percentage point.

The services that rose the most were:

  • Air transportation, 41.69%
  • Package tourist services, 12.83%
  • Domestic gas, 7.48%
  • Low-octane gasoline, 1.99%
  • Electricity, 1.73%

The products that increased their prices the most are:

  • Avocado, 13.84%
  • Onion, 10.87%
  • Tomato, 7.50%
  • Egg, 6.09%
  • Corn tortilla, 2.03%

Taking into account the underlying price index, that is, eliminating from the calculation the goods and services with more volatile prices, an increase of 0.72% monthly was registered, reaching 6.78% annually.

Thus, merchandise prices rose 0.93% and services 0.47%.

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Related: Mexican President Eyes Food Price Controls if Inflation Stays High (USNews)

This article was translated from Spanish using AI technologies. Errors may exist due to this process.