Inflation Hits 8.76 Percent: INEGI

Inflation increased by 0.41 percent during the first two weeks of September in comparison to the previous fortnight, according to the National Institute of Statistics and Geography’s (INEGI) National Consumer Price Index (INPC). This increase left inflation at 8.76 percent. In 2021, inflation increased by 0.42 percent during the same period, leaving annual inflation at 5.87 percent. 

“The underlying price index grew 0.44 percent at a biweekly rate and 8.27 percent at an annual rate. In the same period, the non-core price index rose 0.32 percent biweekly and 10.22 percent annually. Within the underlying index, at a biweekly rate, the prices of merchandise increased 0.50 percent and those of services 0.36 percent,” reports INEGI via its INPC. The non-core index reported that prices of agricultural products grew 0.86 percent, while government energy and tariff prices fell 0.14 percent. 

INEGI’s data shows that the first fortnight of 2022 recorded the third highest inflation increase since 2013. The INPC registered its highest increase in 2016, with a 0.54 percent increase, followed by a 0.42 percent increase in 2021 and a 0.41 percent increase in 2022. 

INPC’s annual variation was located at 8.76 percent, underlying and non-core indices stood at 8.27 percent and 10.22 percent, respectively. During the same period in 2021, the INPC increased 5.87 percent while its components registered an increase of 4.92 percent and 8.86 percent. The Price Index of the Minimum Consumption Basket (IPCCM) also increased, with a 0.52 percent biweekly increase and 9.70 percent at an annual rate. However, it showed a minimum decrease in comparison to the same period in 2021, when it registered 0.54 percent.  

The INPC reference period uses the second half of July 2018 as its basis, specified INEGI.