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News Article

Prices Go Up, Hitting Northern Mexico

By Emilio Aristegui | Tue, 11/30/2021 - 15:28

The National Consumer Price Index (INPC) registered another increase in prices during November, with northern states suffering the sharpest increases.

“The National Institute of Statistics and Geography (INEGI) reports that in the first fortnight of Nov. 2021, the National Consumer Price Index (INPC) registered a growth of 0.69 percent compared to the immediately previous fortnight. With this result, annual inflation was 7.05 percent. In the same period, in 2020, the corresponding variations were 0.04 percent biweekly and 3.43 percent annually,” reads an INEGI’S press release.

INEGI also reported a 0.15 percent biweekly and 5.53 percent annual increases in the underlying price index. The non-core price index rose as well, with increases of 2.29 percent biweekly and 11.68 percent annually. The prices of merchandises and services increased 0.07 percent and 0.25 percent respectively in the underlying price index at a fortnight rate.

The end of the subsidy period offered within the summer electricity tariff program, which benefitted 11 cities, caused a biweekly increase of 2.38 percent in energy costs within the non-core price index. The prices of agricultural products also increased by 2.17 percent.

INPC registered a fortnightly inflation of 0.69 percent, its highest rate for a November since 2017, when it registered an increase of 0.92 percent. Biweekly percentage changes in underlying and non-underlying price indexes during the first fortnight of Nov. 2021 were also below most years since 2012, ranking seventh only ahead of the years 2020, 2018 and 2015.

The states that registered greater variation were Sonora with 4.15 percent, Sinaloa with 3.71 percent, Baja California Sur with 2.84 percent, Baja California with 2.49 percent and Chihuahua with 1.43 percent. Northern cities were also affected. Mexicali, Hermosillo, Esperanza, Culiacan and Huatabampo saw the sharpest increases during the first two weeks of November.

Southern states saw the smallest price increases: Oaxaca, -0.07 percent; San Luis Potosi, 0.02 percent; Chiapas, 0.01 percent; Michoacan, 0.04 percent; and Yucatan, 0.08 percent. Southern cities such as Tehuantepec, Tapachula, Jacona, San Luis Potosi and Oaxaca registered the smallest INPC increases in the country.

The data used in this article was sourced from:  
INEGI
Emilio Aristegui Emilio Aristegui Junior Journalist and Industry Analyst