Mexico registers inflation of 4.9% in October; the highest since May 2019

Compared to September 2020, it increased by 0.61 percent in October

Photo by: Anna Shvets en Pexels

According to the National Consumer Price Index (NCPI) published by the National Institute of Geography and Statistics (INEGI), Mexico registered last October 2020 an inflation of 4.09 in the annual rate, which is the highest figure since May 2019, month in which there was a variation of 4.28% in consumer prices.

This 12-month figure is, for the third consecutive month, above the Bank of Mexico's (central) inflation target of 3%, +/- one percentage point.

Compared to September 2020, in October inflation was 0.61%, this was due, according to INEGI, to the fact that during this last month the following products and services increased their prices: cactus (30.05%), onion (25.24%), zucchini (20.78%), electricity (18.66%), tomato, (18.61%) and air transportation (0.86%).

While the products that presented a decrease in the price index were lemon (17.8%), orange (17.41%), avocado (10.35%), pineapple (8.33%) and banana (4.95%).

According to the INEGI, the next update of the data presented in the INPC will be presented on December 9 of this year and will have the information corresponding to the month of November.

With information from Infobae.

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