Inflation decreases after fourteen months

Significant progress was made because, in Mexico City, public transport such as subway and Metrobus provided services free of charge after a 7.1-magnitude earthquake hit the country on September 19
Red and green tomato, avocado, and chicken were some of the products that presented a price decrease - Photo: Leo Morales/EL UNIVERSAL
09/10/2017
18:00
Rubén Migueles
Mexico City
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After fourteen consecutive months on the rise, inflation began to decrease. Significant progress was made because, in Mexico City, public transport such as subway and Metrobus provided services free of charge after a 7.1-magnitude earthquake hit the country on September 19, and the prices of red and green tomato, and mobile phone service decreased, according to Mexico's National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía abbreviated Inegi).

During September 2017, Mexico's National Consumer Price Index presented a monthly increase of 0.31%, bringing the annual inflation rate to 6.3%, compared to the 6.66% annual inflation rate in August 2016.

Some of the goods that presented a price decrease and services, which contributed to contain inflation in September, were: tomato, -20.18%; subway and Metrobus, -23.49%; green tomato, -17.71%; mobile phone service, -3.72%; bananas, -10.80%; all-inclusive tourist services, -3.29%; avocado, -7.20%; and chicken, -0.94%, among others.

While the products that presented a price increase were: onion, 44.89%; LP gas, 4.61%; low octane gasoline, 1.46%; and potato, 16.71%, among others. 

The underlying price index, which does not include goods and services whose prices are more volatile, presented a monthly increase of 0.28% and an annual rate of 4.80%.

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