Mexico’s annual consumer inflation rate stood at 3.94% in May, but food basket costs increased at a faster pace, according to Inegi data.
In rural areas, the monthly cost per person of the basic food basket rose from 1,844 to 1,960 pesos over the past year, a 6.3% increase. In urban areas, it went from 2,430 to 2,597 pesos, up 6.9% annually.
The broader basket that includes both food and non-food goods, used as a reference for the income poverty line, also moved higher. In rural areas, it increased from 3,382 to 3,554 pesos, while in urban areas it rose from 4,691 to 4,930 pesos. Both categories posted a 5.1% annual increase.
The main contributors to the higher food basket cost were tomatoes, potatoes, and food and beverages consumed away from home. Tomato prices nearly doubled, rising 99.2% year over year, while potatoes increased 57.3%. Food and beverages consumed outside the home rose 6.6%.
Source: Puente Libre.mx
