Egg, milk, chicken and tortilla increase more than inflation

The price of eggs, milk, chicken and tortillas – foods that are considered essential in the Mexican diet – have shown increases above inflation so far this year, according to the latest data from the National Institute of Statistics and Geography (Inegi).

Until the first fortnight of May, the Inegi reported that inflation at the national level was 3.00%; however, some food products far exceed this figure, due to disruptions in global distribution chains, as well as tensions in Eastern Europe.

“Although the drop in contagion in the world would support the expectation that some bottlenecks in supply will moderate, the confinements in China will continue to generate obstructions in supply chains. Additionally, the extension of the conflict in Ukraine and the sanctions against Russia have kept the international prices of raw materials and other inputs for production under pressure,” said Alejandro Saldaña, deputy director of Economic Analysis at Ve por Más (Bx+).

In the case of chicken, it was observed that this product has become more expensive 13.22% so far this year, that is, 4.4 times above general inflation. Meanwhile, the price of eggs has increased 13.13%, corn tortillas 7.05% and pasteurized milk – which in recent days has reported prices not seen in different entities of the country – has increased by 5.36 percent.

However, there are other food products that have far exceeded inflation, such as avocado, whose price has increased by 78.73% so far this year; the serrano chili, one of the essentials when making sauces, 13.13%; as well as beef whose price rose has risen 3.90%, among others.

Concern about rising food basket prices

These products are part of the basket of food, beverages and tobacco that make up the National Consumer Price Index (INPC), which has also exceeded the average level of inflation at the national level with an increase of 4.93 percent.

Within this item, it was observed that the increase was due to the 5.03% rise in food prices. Specifically, the greatest increase occurred in edible oils and fats, with 8.27%, while milk and eggs became more expensive 7.66% and bread, tortillas and cereals 7.10 percent.

“This situation is alarming, since in Mexico 40.3% of the population is in a situation of working poverty (…) the government announced the Package Against Inflation and Famine (Pacic), which includes measures of production, distribution, trade abroad and others that seek to contain the increase in the level of prices in basic necessities; however, this package did not consider a social program that would allow the most vulnerable families to have access to food, that would help prevent the purchasing power of the poorest households from deteriorating further,” said México Evalúa.

Meanwhile, alcoholic beverages and tobacco have become more expensive by 3.90% so far this year. Alcoholic beverages showed an increase of 3.26% in their price, while tobacco 5.14 percent.

Transport

Another item that presented a greater increase than general inflation was transportation in the country. According to Inegi data, in the first half of May this component of the INPC has increased its price by 4.06 percent.

This is mainly explained by the 5.20% increase in own-account transport, which includes the purchase of automobiles, as well as the expenses allocated to their maintenance.

In this sense, the acquisition of a car has become more expensive 3.89% this year, while the cost of motorcycles 4.28% and bicycles 3.73 percent. Meanwhile, issues such as tires increased their price by 5.49%, while car maintenance services increased by 3.54 percent.

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