The inflation rate in Mexico decreased during the first half of February.

The indices were compared with those recorded in the previous fortnight. This trend places the annual inflation rate at 4.45%, according to INEGI.

The National Institute of Statistics and Geography (INEGI) has reported a decrease of 0.10% in the National Consumer Price Index (INPC). These results were compared between the figures from the first half of February 2024 and the previous fortnight. This movement in the index indicates that the annual inflation rate stands at 4.45%.

This adjustment in the INPC comes at a time when Hurricane Otis significantly affected Acapulco de Juárez, posing challenges in price measurement due to the lack of availability and regular supply of certain goods and services. To overcome these obstacles and continue providing reliable data, INEGI has implemented price reporting for unavailable or irregularly supplied products in that city.

In detail, the core price index, which excludes the most volatile items such as fresh food and energy, recorded an increase of 0.24% in the fortnightly rate and 4.63% in the annual rate. On the other hand, the non-core price index, which includes these volatile elements, experienced a fortnightly decline of 1.10% but still increased by 3.93% on an annual basis.

Within the core segment, goods and services saw increases of 0.21% and 0.27%, respectively, in the fortnightly rate. In contrast, in the non-core price domain, agricultural products experienced a significant decrease of 3.95%, while energy and government-authorized tariffs saw an increase of 1.50% during the same period.

These figures offer a detailed look at how variations in different sectors and categories of products impact overall inflation and reflect the economic fluctuations facing the average Mexican consumer. Forecasts for this year still placed Mexico in a challenging economic environment regarding inflation.