Yucatán Posts One of Mexico’s Sharpest Price Increases in First Half of August

Mérida, Yucatán — Consumer prices in Yucatán rose 0.68% in the first half of August, nearly seven times the national average and the second-steepest increase of any Mexican state, according to the latest report from INEGI, the national statistics agency.

The two-week increase compared with 0.10% nationally and placed Yucatán behind only Tabasco, where prices climbed 0.81%. Quintana Roo also posted an above-average gain of 0.28%, while Campeche did not rank among the states with the largest increases or decreases.

Mérida, the state capital, registered the same 0.68% rise and was the second fastest-rising city among those tracked by INEGI, after Villahermosa, Tabasco. The state and city figures are not separate measurements; INEGI uses the Mérida metropolitan area as the reference for Yucatán.

National Context

Nationally, the consumer price index reached 145.393 points, with a 0.10% two-week advance. Annual inflation stood at 3.26%, up from 3.14% in the previous fortnight and 3.12% at the end of July. While the annual figure remains within the Bank of Mexico’s target range of 3% plus or minus one percentage point, the national average masks sharp differences across regions and concentrated increases in everyday goods.

Eggs made the largest contribution to the overall rise, with prices up 7.92% from the second half of July. Onions posted the steepest increase at 19.03%, followed by serrano chiles at 8.92% and other fruits at 3.53%. Tequila rose 2.80%, taxi fares 1.73%, cigarettes 0.95%, university tuition 0.88%, public transit 0.54%, and owner-occupied housing 0.10%.

Services remained a major source of upward pressure, with prices rising 4.34% year over year, compared with 3.51% for goods. Education costs were up 5.93% annually, restaurants and lodging 6.32%, health care 4.75%, and housing, water, electricity, gas and other fuels 3.03%. Underlying inflation, which excludes volatile items, came in at 3.93% annually, while non-core inflation stood at 0.96%.

Some Prices Fell

The increases were not widespread. During the same period, potatoes and other tubers fell 5.97%, zucchini 5.82%, airfares 5.02%, tomatoes 4.86%, and avocados 3.66%. Liquefied petroleum gas dropped 2.05%, sanitary pads 2.16%, chicken 1.21%, fabric softeners and cleaners 0.96%, and automobiles 0.56%.

Those changes reflect national average prices and do not necessarily apply to Yucatán, where the actual impact would require comparing prices of the same products and packaging at markets and supermarkets in Mérida.

The basket of 170 essential goods and services, meanwhile, increased 0.12% in the first half of August and was up 2.96% from a year earlier.