During the first half of October 2024, according to Inegi, the price of nopales in Mexico soared by 18.9%, making them the product that contributed the most to the increase in the inflation rate. In second place were electricity rates with an increase of 18.07%, while zucchini and papaya occupied third and fourth place with increases of 15.56% and 15.51% respectively. Other products that also experienced significant increases were green tomato with 14.80% and air transportation with 10.29%.
The National Institute of Statistics and Geography indicated that these increases caused a 0.43% rise in the national inflation rate, leading the National Consumer Price Index to register an annualized increase of 4.69%. This spike ends a streak of five consecutive halves with declines in inflation. Despite these data, the Bank of Mexico expects the country's annual inflation rate, currently at 4.69%, to take several months to return to its official target of 3%, estimating a close of the year at 4.3% and forecasting that the 3% target will not be reached until the fourth quarter of 2025.
The complete list of the ten products and services that increased the most in Mexico during the first half of October 2024 is as follows: - Nopales: 18.9% - Electricity: 18.07% - Zucchini: 15.56% - Papaya: 15.51% - Green tomato: 14.80% - Air transportation: 10.29% - Tomato: 4.02% - Other cooked foods: 0.57% - Lunchrooms, fondas, torterías and taquerías: 0.33% - Own housing: 0.12%
