Inflation in Mexico climbs to highest level in 20 years

Xinhua
25 Nov 2021, 02:25 GMT+10

MEXICO CITY, Nov. 24 (Xinhua) -- Inflation in Mexico reached 7.05 percent year-on-year in the first half of November, the highest level in 20 years and more than double the official target, the National Institute of Statistics and Geography (INEGI) reported Wednesday.

INEGI President Julio Santaella explained on his Twitter account that the variation is the highest recorded since April 2001.

In the first half of November, the National Consumer Price Index grew 0.69 percent compared to the immediate preceding fortnight, according to INEGI.

Core inflation, the benchmark used by the central bank of Mexico for monetary policy decisions, advanced 5.53 percent year-on-year in the first two weeks of November, also above the official target of 3 percent.

In a report issued separately, the Banorte financial group explained that global energy costs and bottlenecks in trade flows are directly and indirectly affecting prices even more than anticipated.

"Pressures will continue due to supply and demand imbalances and the (COVID-19) pandemic," Banorte reported.

Inflation has accelerated in 2021 in Mexico, especially in prices of manufactured goods, raw materials, energy and services.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.

More Information

null in null

Lifestyle

Section

Gujarat CM announces uniform house tax of Rs 200 annually for PMAY-Gramin beneficiaries

Gandhinagar (Gujarat) [India], June 27 (ANI): Gujarat Chief Minister Bhupendra Patel has made a crucial decision aimed at advancing...

Rajasthan CM Sharma expresses grief over Rudraprayag bus mishap

Jaipur (Rajasthan) [India], June 26 (ANI): Rajasthan Chief Minister Bhajanlal Sharma on Thursday expressed grief and offered condolences...

"Hindi should not be made compulsory in primary education": Sharad Pawar calls for focus on mother tongue

Satara (Maharashtra) [India], June 26 (ANI): Amid the ongoing debate over the Maharashtra government's alleged move to make Hindi compulsory...

Loss of lives and missing persons in rain-hit Himachal "extremely distressing": Priyanka Gandhi as she urges govt to ensure maximum safety

New Delhi [India], June 26 (ANI): Congress leader Priyanka Gandhi Vadra on Thursday called the situation in rain-hit Himachal Pradesh...

I Have Kids at Home--Which Grouts and Tile Adhesives Are Non-Toxic?

HT Syndication New Delhi [India], June 26: When Ritu and her husband began renovating their apartment, their two top priorities were...

India is an exceptionally important partner Russian defense minister

Andrey Belousov has called New Delhi a traditional friend in the military-technical sector Russian Defense Minister Andrey Belousov...

International

Section