Although food inflation slowed in November, after five months accelerating, these products, considered basic for the well-being of citizens, continue to put pressure on the pockets of Mexicans, according to the latest data from the National Institute of Statistics and Geography (Inegi).
In November, the price of food presented an increase of 12.54% compared to the same month last year, a lower rate than that presented in October, when the cost of these products rose by 14.48 percent.
In this way, food inflation had its first important moderation since May, when it slowed down to 12.37; however, it remained above general inflation, which in November was 7.80 percent.
Rise in food is alarming
The organization México ¿Cómo Vamos? indicated that the increase in food prices is alarming, since in Mexico four out of 10 Mexicans are in a situation of labor poverty, for which reason they can hardly fully satisfy their food needs.
He also added that there are various central foods in the diet of Mexicans that continue to rise, with everything and the Package Against Inflation and Famine (Pacic) presented in May, as well as the Opening Agreement Against Inflation and Famine (Apecic) , announced later to reinforce the first.
“For example, the price of the corn tortilla – one of the products in the basic basket of the Pacic – presented an annual variation of 16.82% and is the third generic with the highest annual incidence,” said México ¿Cómo Vamos?
Meanwhile, other products belonging to the Pacic basket that continue to show alarming increases in their prices are wheat flour, with an annual increase of 35%; the egg, with 26.46%, as well as milk, with 14.07 percent.
In all cases, the rise has been greater than general inflation.
Pressure on producers
The increases observed towards the consumer are mainly explained by the pressures that producers have had to face in Mexico, which increased after Russia’s invasion of Ukraine at the end of February.
In this sense, although inflation for producers in general also slowed down in November, with a monthly decrease of 0.37%, the increases observed in the food industry are still worrying, considered Gabriela Siller, director of Economic and Financial Analysis at Banco Base.
“Despite the decrease in the general index, the increases in the food industry (0.12% monthly) and the beverage and tobacco industry (0.91%) are worrisome; but especially food since it shows an annual rate of 16.42%, being the second highest after the wood industry, with 17.18%”, he commented.
The normalization of demand, after the Covid-19 pandemic, led to the generation of some pressure on prices worldwide, which increased with the war in Eastern Europe, which spread throughout the this year and has affected the prices of various economies, including Mexico.
Ends engagement with the Pacic
Bread will be more expensive starting next week, anticipates ANPEC
As of next Monday, December 19, new prices will enter into force in the baking industry due to the inflationary pressures that have had to be faced, as announced by the National Alliance of Small Merchants (ANPEC).
The baking industry has had to face, throughout this year, increases in the prices of its main inputs, such as wheat, energy, as well as logistics.
“The price of wheat has skyrocketed as a result of the war in the East (in Europe), as has the cost of gas and electricity in our country, which is increasingly expensive and insufficient. In addition, there is a shortage of cardboard, plastic and aluminum, which makes the logistics of packaging these products more expensive,” said ANPEC.
In this way, the commitment of this industry with the Package Against Inflation and High Costs (Pacic) is finished, which was presented last May by the López Obrador government to contain price increases in certain products considered basic for the consumer.
The ANPAC also reported that, in addition to the increases expected in bread, also starting next Monday there will be an average rise of five pesos per pack of cigarettes.
ana.martinez@eleconomista.mx
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