Food Prices in Mexico Surge by up to 148 Percent
By THE PULSE NEWS MEXICO STAFF
Since the start of the year, some food prices in Mexico have doubled, and others have increased by as much as 148 pecent, according the the National Institute of Statistics and Geography (Inegi).
The price of avocados has increased by 45 percent since January, while onion prices are up 44 percent and tomatoes are up 35 percent.
In the second half of November, Mexico’s inflation hit 7.05 percent, and the Central Bank of Mexico (Banxico) attributed the surge to an increase in fuel costs.
But according to the National System of Information and Integration of Markets, in Mexico City’s Central de Abasto, where 80 percent of all food consumed nationwide is distributed, products are up to 40.6 percent more expensive than a year ago.