Chihuahua, Chih.- Rising prices for agricultural products, largely due to the drought, pushed inflation up in June.
Inflation has not given in and in June in the city it was 4.14% at an annual rate, compared to the 4.05% reported in May, while in the state it reached 4.36%, after the 4.20% reported the previous month.
The president of the Business Coordinating Council (CCE), Federico Baeza Mares, attributed this increase to the fact that the drought “hit” the price of fruits and vegetables, which rose by 3% in general, in addition to the increase experienced in freight prices.
The logistics issue, refrigeration and storage costs are factors that are largely causing the increase in inflation, he added.
The president of the Banking Center of the State of Chihuahua, Gonzalo Aguilera, pointed out that agricultural products are what drove inflation up, this is related to the issue of drought, demand and inputs that increased with the exchange rate.
As inflation remains high, he said that the decision that the Bank of Mexico (Banxico) will make regarding interest rates is uncertain, since the opinions of the members of the Governing Board are divided regarding possible reductions in August and September.
He indicated that since the Federal Reserve in the United States is projected to cut interest rates at the end of the year, it is likely that the Bank of Mexico will follow the same path.
In the state, during the sixth month of the year, inflation in food, beverages and tobacco was the highest at 5.28%, in health and personal care it reached 5.07% and in transportation it reached 4.02%.
Inflation in housing stood at 3.80% in the sixth month of the year, in education and leisure 3.37%, in clothing, footwear and accessories 3.00% and in furniture, appliances and household accessories it stood at -1.49%.
At the national level, in June the National Consumer Price Index (NCPI) showed an increase of 0.38% compared to the previous month. With this result, the annual general inflation stood at 4.98 percent. In the same month of 2023, the monthly inflation was 0.10% and the annual inflation was 5.06 percent.
The products that reported rising prices in June were chayote, orange, avocado, chicken and own housing, among others.
Meanwhile, tomatoes, serrano peppers, eggs, internet, telephone and television packages, lemons and poblano peppers were among the products and services with falling prices.
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