During November, inflation stood at 7.37% at an annual rate, its highest level in 20 years, driven mainly by increases in electricity and agricultural tariffs.
The National Consumer Price Index (INPC) presented a growth of 1.14% compared to the immediately previous month, the National Institute of Statistics and Geography (Inegi) reported on Thursday.
In the same month of 2020 the figures were 0.08% monthly and 3.33% annually.
With the increase of 7.37% per year, inflation reached levels not seen since January 2001, when it stood at 8.11%.
With this data, inflation linked nine months outside the range of Banco de México (Banxico) which is 3% +/- one percentage point.
Read: Inflation hits Mexicans’ pockets; recovery of jobs after pandemic, still insufficient
In November 2021, the #INPC presented a growth of 1.14% compared to the immediately previous month; the overall annual #inflación was 7.37%. In the same month, but of 2020, the variations were: 0.08% monthly and 3.33% annual. https://t.co/KImtKATWRB #ComunicadoINEGI pic.twitter.com/er4zt6zz1Y
— INEGI INFORMA (@INEGI_INFORMA) December 9, 2021
The underlying price index, which does not include generics whose prices are more volatile, had an increase of 0.37% monthly and 5.67% annually; on the other hand, the non-core price index rose 3.45% monthly and 12.61% year-on-year.
What went up and down the most
The price increase in electricity rates stands out, with a monthly increase of 24.16% due to the conclusion of the subsidy to the summer season electricity tariff program in eleven cities of the country.
Other products that had the largest increases were green tomato (71.85%), fresh chilies (30.66%), tomato (25.38%), chicken (2.77%), beef (1.70%); and air transport (9.67%).
See also: Banxico raises its interest rate to 5% to contain inflation
In contrast, the products that lowered their price the most are: domestic gas; orange, avocado, beans, pork; men’s shoes and televisions.
By state, Sonora was the one with the highest inflationary pressures (4.33%), Sinaloa (4.05%); Baja California Sur (3.33%) and Baja California (2.91%).
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