Menu Search Facebook Twitter
Search Close
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers

‘Gasolinazo’ Triggers Highest Inflation Rates in 18 Years

Compared to last year, inflation grew 4.78 per cent, the highest level since January 2016

Proteters holding a banner stand outside Los Pinos, photo: Cuartoscuro/Saúl López
By Vianey Pichardo Whatsapp Twitter Facebook Share
11 months ago

The first half of January saw its highest inflation rate — 1.51 percent higher than the last half of December — Mexico has experienced in the last 18 years, when inflation rates reached 1.62 percent in January 1999.

Annually compared to last year, inflation grew 4.78 percent, the highest level since January 2016 when it spiked to 2.48 per cent, meaning prices doubled by January 2017, according to data from the National Institute of Geography and Statistics (INEGI).

As a result of the current oil prices — which rose 16.53 percent — following the liberation of gasoline prices, the Treasury and Public Finance Secretariat (SHCP) established the maximum prices related to the cost of supplies on the international market. Due to the latter, government subventions to the cost of gasoline were cancelled, raising the price of national gasoline by 2 pesos ($0.09) a liter.

Commodities included in non-underlying goods spiked 4.6 per cent after a 2016 increase from 2.08 to 8.02 per cent; government utilities grew from 3.15 to 3.57 percent. On the other hand, underlying goods such as food and tobacco rose to 4.5 percent from 2.18 during 2016.

Products with the highest price hikes are high-octane or premium gasoline, LP gas and low-octane gasoline; while tomatoes, grapes, air travel and package tourist services are on a downward trend.

Comments Whatsapp Twitter Facebook Share
More From The News
Latest News

Democrat Jones wins stunning red-state A ...

2 days ago

Asian stocks mixed ahead of Fed rate ann ...

2 days ago

NFL Network suspends analysts over sexua ...

2 days ago

SpaceX delivery delayed few days; 1st re ...

2 days ago
Most Popular

French PM says Disputed Labour Bill Open ...

By The Associated Press

Business Leaders Bullish About Long Term ...

By Lázaro González

New Delivery App Rappi Says It's Not Sel ...

By Caitlin Donohue

Power Lunch to Close

By The Associated Press

Oil Hits $50 for First Time This Year, H ...

By The Associated Press