Inflation in Mexico is 5.75% in first two weeks of July, highest since 1999

RIO DE JANEIRO, BRAZIL – The National Institute of Statistics and Geography (INEGI) announced on Thursday, July 22, that the National Consumer Price Index (INPC) recorded an annual inflation rate of 5.75% in the first fortnight of July 2021. According to economist Jonathan Ernest Heath, this underlying rate for the first fortnight of July is the highest for a comparable period since 1999.

The INEGI presented this Thursday a report on the National Consumer Price Index (INPC). It indicated that up to the first fortnight of July this year registered annual inflation of 5.75%. They explained that this was due to the prices of energy, food, beverages, and tobacco.

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According to economist Jonathan Ernest Heath, this underlying rate for the first fortnight of July is the highest for a comparable period since 1999: “The inflation news released today is definitely bad,” he commented on his social networks.

However, the Institute pointed out that this figure was virtually unchanged compared to the previous fortnight when inflation reached 5.74%; although… it also recorded the highest level since the first fortnight of June this year 2021, when it was 6.02%.

According to INEGI, the products that increased the most and had the greatest impact on inflation were the following: Air Transportation at 56.43%, Domestic LPG at 34.64%, Pork at 17.56%, Super Gasoline at 16.48%, and Shrimp at 16.03%.

The products that showed a price decrease were potatoes and other tubers at 3.49%, eggs with 2.96%, and onions at 1.87%.

In addition, the states with the highest price increases were San Luis Potosí with 0.84%, Guerrero with 0.72%, Puebla with 0.67%, Sinaloa with 0.66%, and Chihuahua with 0.59%.