The Mexican general inflation rate rose in the first half of November to 4.32% annuallyan increase that broke with the decline accumulated during the year, the National Institute of Statistics and Geography (Inegi) reported this Thursday.
The data, above market expectations, It broke with 19 consecutive fortnights of decline after the 4.26% index for all of October and after having started the year with 7.91% in January.
The statistics institute reported an increase of 0.63% in the Consumer Price Index (CPI) compared to the previous 15 days.
The Inegi recalled that in the same period of 2022, a year ago, biweekly inflation was 0.56% and annual inflation was 8.14%.
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The underlying price index, considered a better parameter to measure general shortages because it eliminates items with high volatility in their prices, increased 0.20% biweekly and 5.31% annually, Inegi detailed in its report.
While the non-underlying item grew by 1.96% at a biweekly rate and 1.41% year-on-year.
Within the underlying subgroup, merchandise increased 0.13% in the fortnight and 5.32% in the year.
While services advanced 0.28% biweekly and 5.28% annually.
In non-core, agricultural prices grew by 1.03% compared to the immediate previous period and 3.04% compared to the same period last year.
Energy prices and rates authorized by the Government increased by 2.77% in the fortnight and 0.05% in the year.
The price index of the minimum consumption basket, made up of 176 products and services, advanced 0.83% biweekly and 3.95% at an annual rate.
Consumer prices closed in 2022 with an increase of 7.82%, above the 7.36% in 2021, which was then the highest level in the last 20 years.
Instead, 2020 inflation closed at 3.15%.
The data for the first half of October is above the 3% annual goal of the Bank of Mexico, which maintains the interest rate at a record of 11.25%.
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