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As international inflation continues to dominate global economic forecasts, Mexico’s own ongoing bout with inflation has been no walk in the park itself; rather than ease up in September as anticipated by sector specialists, inflation only increased in Mexico across the course of the month, reaching 8.76 percent in the first half of September alone.

According to the National Institute of Statistics and Geography (Inegi), the National Consumer Price Index grew by 0.41 percent in the first half weeks of August compared to the two weeks prior, the second highest inflation climb across this time period since 2016.

This caused overall annual inflation to hit 8.76 percent, the highest inflation levels seen in Mexico since general inflation reached 8.87 percent in the country during the second half of December 2000. 

Mexico’s underlying price index has also risen at a .44 percent per every two weeks rate to reach a 8.27 annual level, the highest rate in the nation since 2000.

Likewise, merchandise prices rose by 10.75 percent and the cost of services by 5.43 percent, said Inegi data.

At the same time, the non-core price index grew by .33 percent every two weeks to reach a 10.22 percent annual rate. Following this index, Mexico’s agricultural products increased 15.23 percent annually in price and energy costs at 6.2 percent.

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