Mexico: Food prices keep inflation high

Published 2022년 9월 23일

Tridge summary

In September, Mexico experienced a significant inflation surge, with the annual headline inflation rate reaching 8.76%, the highest since December 2000. This increase was largely due to significant price changes in food, particularly processed foods and fruits and vegetables, which saw annual increases of 13.27% and 14.68%, respectively. Notable price hikes were observed in various produce and melons. In response to these price hikes, particularly the increase in onions due to hoarding, the Federal Consumer Protection Agency (Profeco) under President Andrés Manuel López Obrador has implemented measures to control inflation, focusing on ensuring that essential items do not continue to rise in price.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The rise in inflation did not stop during the first half of September and exceeded the expectations of specialists. According to data from the National Institute of Statistics and Geography (Inegi), this phenomenon was mainly driven by changes in food prices. Annual headline inflation stood at 8.76%, remaining the highest rate since the second half of December 2000, when it reached 8.87 percent. According to the Inegi, processed foods had an annual increase of 13.27% in the first half of September compared to the same period of the previous year. In the case of fruits and vegetables, the rise was 14.68 percent. Among those that became more expensive, onion (87.26%), green tomato (54.91%), lettuce and cabbage (15.79%), fresh chilies (14.13%), melon (13.13%) and papaya ( 10.24%), among others. The head of the Federal Consumer Protection Agency (Profeco), Ricardo Sheffield, assured that the administration of President Andrés Manuel López Obrador (AMLO) reached agreements with ...

Source: Informador