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Inflation through the roof: Reaches 7.05% in the first half of November

U.S.A.Inflation through the roof: Reaches 7.05% in the first...

(Photo: Courtesy Coffee)

During first fortnight of november, ns annual inflation reached at 7.05%, sYou are at the highest level in more than two decades., it was announced this Wednesday by National Institute of Statistics and Geography (Ingei),

Institute published that National Consumer Price Index (INPC) advanced 7.05%, compared to 6.36% in the second half of October, the highest record since April 2001.

He elaborated that underlying price index (which is achieved by eliminating those goods and services whose prices are more volatile than the INPC calculation) had increased by 0.15% biweekly and 5.53% annually. For its part, the non-core price index rose 2.29% every fortnight and 11.68% annually.

According to Inegi, The increase is mainly due to increase in electricity rates And this prices of some agricultural commodities, mainly.

inside non-core price index, prices agricultural products increased by 2.17 per cent bi-weekly and among them Government authorized energy and tariffs They did so by 24.16%, largely as a result of the termination of subsidies for the summer electricity tariff program implemented in 11 cities in the country.

whereas Increased prices of other products and services And with this he included the increase in inflation: Green Tomato (fortnightly increase of 42.06%); Fresh Chili Peppers (19.77%), air transport (7.08%); tomatoes (3.92%); chicken (2.76%); services in lunch boxes, taverns, torterias and taquerias, (0.39%); beef (0.77%); automobile (0.79%); as well as other vegetables and legumes (4.83%).

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Many products like chicken have increased their prices PHOTO: VICTORIA VALTIERRA / CUARTOSCURO / ARCHIVO
Many products like chicken have increased their prices PHOTO: VICTORIA VALTIERRA / CUARTOSCURO / ARCHIVO

opposite of this, The price of products and services fell is that LP Domestic Gas with fortnightly reduction of 1.86%, low octane gasoline (0.46%); men’s shoes (2.28%); pork (0.78%); bags, suitcases and belts (2.72%); television (1.39%); pants for women (1.62%); Tire (1.21%), terminal communication equipment (1.23%) and Internet, telephone and pay television packages (0.48%).

Inegi reported that the underlying price index, which excludes generics, whose prices are more volatile, rose 0.15% every two weeks and 5.53% annually; For its part, the non-core price index rose 2.29% every fortnight and 11.68% annually.

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Within the underlying price index, at the fortnightly rate, prices of merchandise traded up by 0.07% and that of services by 0.25%.

Photo: Andrea Murcia / Kurtoscuro / Archive
Photo: Andrea Murcia / Kurtoscuro / Archive

This Wednesday, President Andres Manuel López Obrador categorically rejects that inflation has risen to 7.05% Inegi announced this Wednesday during the first fortnight of November Highest in 20 years.

When questioned by a reporter at his morning conference at the National Palace, López Obrador insisted it was “a global phenomenon.”

,This is a global phenomenon, a crisisNow, because of the pandemic, which is manifesting in all countries, We have inflation equal to that of the United States, In general, inflation in Mexico is higher than in the United States, in which case it is similar, they bring inflation higher than 6%, Brazil brings inflation of 11%”, he assured.

assured that Your government is stabilizing prices And for that, he said, the approval of electrical repair,

Photo: Andrea Murcia / Kurtoscuro / Archive
Photo: Andrea Murcia / Kurtoscuro / Archive

“This is a phenomenon that is affecting, i hope it gets resolved soon, it has to do with her Rise in the price of raw materials, food, steelhas had a significant impact on the growth of shipping cost, Increased. Fortunately, we are managing to stabilize the prices, so we need We need power reforms so that prices don’t go up“, said.

He even said that inflation does not affect the wages of the workers.

“It is used to deceive people. Corrupt and incompetent technocrats said for more than 30 years that they could not raise wages because inflation was on the rise and this is wrong, which made the US minimum wage in Mexico one of the lowest in the world, sometimes called minimum wage inflation. Goes down,” she said.

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