Inflation stood at 6.66% in August, its highest level in 16 years

The average monthly rate of prices increased 0.49%
Photo: Tercero Díaz/Cuarto
Rubén Migueles
Mexico City
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During August 2017, the annual inflation stood at 6.66%, its highest level since May 2001 when it reached 6.95%, according to Mexico's  National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía abbreviated Inegi).

Mexico's National Consumer Price Index presented a monthly increase of 0.49% in August 2017, the highest rate for August since 2008 when it had a 0.58% increase.

Among the goods and services that presented a price increase are onion, with a monthly increase of 54.58%; LP gas, 2.96%; tomato, 8.35%; potato, 8.93%; low octane gasoline, 0.40%; and green tomato with a 15.69% increase.

On the contrary, the products that presented a monthly decrease were: all inclusive tourist services, -9.77%; bananas, -6.48%; avocado, -5.19%; toilet paper and disposable handkerchiefs, -1.46%; softeners and cleaners, -0.89%; school supplies, -1.26%; and yogurt with a -1.75% decrease.

The monthly variation of the underlying price index, excluding more volatile prices of goods and services, was 0.25% while the annual variation was 5.00%, the highest rate since July 2009.


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