Prices for 12 major foods rose 28% in the first 4 months

In some parts of Mexico, the average price of 12 key products rose by 28.6% in the first four months of the year, according to data from the Ministry of Economy and the Consumer Protection Agency Profeco.

All the products in question are included in the essentials shopping cart. Mexico uses this economic tool to track inflation. Inflation was 7.72% in the first half of April. More than double the target interest rate of the Bank of Mexico..

The 12 products included in the January-April calculation are limes, melons, serrano chili, onions, apples, tortillas, tomatoes, milk, beans, rice, eggs and chicken. These 12 products are not the entire basket configuration. This includes several other foods and cookware such as hygiene projects such as oil, chocolate, soap and toothpaste.

Cost lime, Serrano chili and melon all surged between 97% and 173% in the first four months of 2022. These price spikes were partially offset by the fall in bean (1.9%), chicken (16.2%) and rice (32.1%) prices over the same period.

Mexico City citizens were most affected, with 12 product costs soaring 28.6%. In Guadalajara, Jalisco, the cost of items increased by 27.9%, while in Monterrey, Nuevo Leon, prices increased by 18.1%.

Shoppers in Mexico City were at their worst, with prices for 12 products soaring 28.6%.

President Lopez Obrador was announced last week by the government We are seeking an agreement with a private company to limit basic food price increases.

“We are already going to reach a very advanced agreement with producers and businessmen,” he said. “We will guarantee a basic food basket at a fair price so that people don’t suffer …” he said. Lopez Obrador added that the plan had business support.

However, opinions in that area are mixed.

Rafael Contreras, chief financial officer of restaurant owner Alcy, said the plan was feasible in the short term.

“In the short term, it’s good for people who consume items from. [inflation] It’s a shopping cart, but in the long run it can cause a shortage of those products. This has to be defined as inflation grows to see if producers are willing to continue it, “he said.

Rodolfo Ramos, general director of poultry producer Bachoco, upheld the government’s plans to promote the distribution of products. “The government said it would not control very important prices and said there would be some support for distribution, including tax cuts on gasoline and diesel, and … there are some other suggestions related to transportation.” Said.

Bachoco chicken
Chicken is one of several items included in the basic shopping basket of staple foods. Bachoco

Antonio Chedrawi Egia, the secretary of supermarket chain Chedrawi, has expressed concern that the government may try to keep prices low in the long run.

Gabriella Schiller, director of economic analysis at the Banco base, said the strategy could be counter-intuitive.

“Unification of prices [between states] For some, it means that prices have to go up. That way, you’re affecting people, not helping them, “she said.

In the report from Mirenio Prices for 12 major foods rose 28% in the first 4 months

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