INSUBCONTINENT EXCLUSIVE:
In June 2024, Mexico experienced an unexpected inflation surge, primarily driven by rising fruit and vegetable prices.This increase saw
inflation jump by 0.38% compared to May, pushing the annual inflation rate to 4.98%, according to the National Institute of Statistics and
Geography (Inegi).In comparison, the rate was 5.06% in June 2023
Analysts had forecast an annual inflation rate of 4.87%, as per a Bloomberg survey.The discrepancy underscores the volatile nature of
presidential candidacy, added to the uncertainty.Analysts focused on core inflation and its merchandise component, anticipating impacts from
in Non-Core Inflation Driven by Food PricesDespite this, non-core inflation, driven by volatile items like food, surged
Non-core inflation rose by 0.87% monthly and 7.67% annually, marking the highest rate since October 2022.Within this category, fruits and
vegetables saw significant price hikes
Monthly, these items increased by 3.27%, with an annual rise of 19.73%.Six of the ten products most affecting the National Consumer Price
Index (INPC) were agricultural.Chayote led with a 128.58% monthly price jump, followed by oranges at 31.37%, avocados at 17.65%, lettuce and
cabbage at 21.87%, and bananas at 13.98%.Conversely, prices for tomatoes, serrano peppers, eggs, grapes, fresh chilies, lemons, poblano
peppers, and sugar decreased from the previous month.This inflation surge matters because it affects household budgets, purchasing power,
and overall economic stability.Monitoring these trends helps policymakers and consumers navigate the economic landscape.
