Annual inflation decreases to 6,28% in the first half of July

It is the first annual decrease after 5 months of rising rates

Photo: File photo/EL UNIVERSAL
English 25/07/2017 19:07 Notimex Actualizada 19:11

During the first half of July, consumer prices rose 0,24 percent, with annual inflation falling to 6,28 percent, after 5 months of rising rates.

The National Institute of Statistics and Geography (INEGI) reported that the inflation is a result of the increase in tourist services and air transport due to the holiday season, as well as the increase in some agricultural products, which was partially counteracted by the decrease in energy.

Thus, with the rate of 0,24 percent in the first half of July, annual inflation was placed at 6,28 percent, lower than the 6,33 percent in the second half of last June.

Despite this pause in its upward trend, general inflation at annual rate adds up to 13 fortnights above 4,0 percent, which is the maximum inflation target for this year of 3,0 percent plus/minus one percentage point.

The Institute pointed out that in the first half of July 2016 the corresponding data shows a fortnightly inflation of 0,28 percent and an annual inflation of 2,72 percent.

It reported that products with rising prices in the first half of this month were tourist services, tomato, air transport, potatoes and other tubers, restaurants, bananas, beef, homes, beer and tomato.

Meanwhile, products with lower prices were domestic gas, sweet bread, cars, low octane gasoline, grape, skin cream, women's pants, bleachers, women's underwear and personal deodorants.

It pointed out that in the first half of July 2017 core inflation, which eliminates goods and services, the prices of which are more volatile, showed a rise of 0,19 bi-weekly percent and an annual rate of 4,92 percent, from 4,85 percent in the second half of June.

Under the core price index, commodity prices rose 0,04 percent and services rose 0,31 percent, added the Institute.

For its part, the non-core price index rose 0,39 percent bi-weekly and 10,65 percent annually, down from 11,1 percent in the second half of June this year.

Within the non-core price index, prices of agricultural products rose 1,22 percent, while those of energy and government-authorized tariffs fell 0,14 bi-weekly percent.

The price index for the basic consumer goods increased by 0,03 bi-weekly percent, as well as an annual rate of 7,91 percent, while in the same period of 2016 the variations were of 0,61 and 1,45 percent, respectively.

INEGI reported that localities with price changes above national inflation in the first half of this month were Colima, Jacona, Toluca, Ciudad Jiménez, Hermosillo, Mérida, Durango, Veracruz, Aguascalientes, and Tijuana.

In contrast, the localities with variations below the national were: Monclova, Oaxaca, Matamoros, Mexicali, Chetumal, Tulancingo, Ciudad Juárez, Puebla, Tehuantepec, and Tlaxcala.


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inflation July México Mexican economy