Prices just keep going up! Yucatán suffers the highest inflation of the year

In November, the state registered 6.4%; at national level it was 7.37%, the highest in 20 years, reports Inegi.

MÉRIDA, Yucatán.- During the last eight months of the year, inflation in Yucatán exceeded five percent, after it reached 6.47 percent in November, the highest so far this year, according to the National Institute of Statistics and Geography (Inegi).

The inflation index reflects the evolution of the general level of consumer prices in a given period of time.

According to Inegi, inflation in the country rose in November to 7.37 percent, its highest level in 20 years, exceeding analysts’ expectations. A year ago, this same figure stood at 3.33 percent annually.

The report points out that electricity was one of the products with a higher increase of 24.16 percent with respect to the previous fifteen days, in addition, the price index of the minimum consumption basket presented an increase of 1.27 percent monthly and 8.35 percent annually; in the same period of 2020, the corresponding figures were 0.14 and 3.47 percent.

In this sense, in the first 11 months of the year, the prices of tomato, avocado, onion, gasoline, and LP gas were the main triggers of the rise in the state, according to the National Consumer Price Index (INPC) published by Inegi.

They highlighted that in November the rise in LP gas continued unabated, as well as gasoline, but the highest increase was registered in electric energy, with 24.16 percent, tomato, with 25.7, and was followed by chicken 2.77, beef 1.70 and air transportation with 9.67 percent.

Last October the city of Merida reached a CPI of 6.47 percent, the highest for this year, but below the national figure of 7.37 percent.

In this context, the president of the National Chamber of Small Commerce (Canacope), Jorge Cardeña Licona, pointed out that the prices of basic products continue with increases almost daily and are expected to continue in the last month of the year.

In addition, the high demand these days for products such as turkey, pork, chicken, and beef also has an impact on the price increase of other basic food products.

“As the economic statistics are, every day it is more difficult for a Yucatecan to have access to the basic food basket since, unfortunately, there is a very prolonged rise that affects their economy.”

He indicated that the small merchants have committed to maintaining prices, even when this means having little to no profit margin, with the objective of not continuing to impact the pockets of those who have less income.