Inflation linked five fortnights with decreases: the National Consumer Price Index increased 0.56% compared to the previous fortnight, and stood at 8.14% at an annual rate during the first half of November this year, a rate lower than the 8.41% registered in October.
In the same fortnight of 2021, biweekly inflation was 0.69% and annual inflation, 7.05%, reported the National Institute of Statistics and Geography (Inegi).
Inflation is below the 8.28% recorded in the second half of October and far from the 8.70% in August, its highest level in 22 years.
Read: To contain inflation, Banxico raises interest rate to a historic level of 10%
Although headline inflation is falling, core inflation, which excludes more volatile goods and services such as agriculture, energy and government-authorized tariffs, remains high.
The Inegi reported that the core price index increased 0.34% at a biweekly rate and 8.66% annually. Inside, the prices of goods increased 11.50% at an annual rate and those of services, 5.40%.
Food and non-alcoholic beverages contributed 3.6 points to the general inflation of 8.14% and had an annual variation of 13.10%. Food increased 13.47% in the first half of November 2022.
The National Consumer Price Index is an indicator that measures the average variation in the prices of representative goods and services consumed by families in 🇲🇽 Mexico.
Get to know the #INPC of the first half of November 2022: https://t.co/jKwL1LMSg5 #INEGI
— INEGI INFORMA (@INEGI_INFORMA) November 24, 2022
What went up and what went down
Among the products with the most rising prices and that influenced general inflation are electricity (20.29%); air transport (12.93%); luncheons, fondas, torterías and taquerias (0.53%); serrano chile (26.11%), professional services (10.41) and low-octane gasoline (0.24%).
In contrast, the prices that registered a drop in their prices were onions, LP domestic gas; potato and other tubers, green tomato, orange, chicken; and hotels.
Inflation has been 41 consecutive fortnights above the target range set by the Bank of Mexico (3%, +/- one percentage point).
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