A family of four adults in a rural community like Agua Blanca de Iturbide, in Hidalgo, needs 6,072 pesos a month to cover their food needs, a price 14.5% higher than a year ago.
In the cities, the price of the basic food basket has increased by 13.4%, according to figures from the public institute dedicated to measuring poverty in Mexico, the National Council for the Evaluation of Social Development Policy (Coneval).
Coneval figures show that the monetary value of the basic food basket in urban regions went from 1,742 pesos per month to 1,975 from March 2021 to March 2022.
The value of the basic food basket for rural areas went from 1,326 pesos per month to 1,518, which reflects that these regions have faced a more pronounced increase in food prices compared to the cities.
These values consider the basic consumption for a person. For this reason, a household of four needs, in urban territory, 7,900 pesos per month and a rural one, 6,072 pesos. And although eating is still significantly more expensive in large cities compared to small communities, the latter have seen a greater increase in prices and are in turn more vulnerable households in terms of income and access to social rights.
The bad news for all families is that prices will continue to rise until at least 2024, as private analysts and international organizations have projected.
runaway inflation
The level of general inflation is already a little over a year outside the target established by the Bank of Mexico (3% +/- one percentage point). In the first fortnight of April, the most updated data, annual inflation reached 7.72%, the highest level in 21 years.
In the regional analysis, the Inegi figures show that 21 entities in the country registered inflation rates higher than the national one. The top three states with the highest price increase during this first half of April were Campeche, Oaxaca and Michoacán with rates of 9.85, 9.05 and 8.94%, respectively.
This situation has a direct impact on the purchasing power of households and their consumption levels, especially for the poorest families.
Minimum consumption foods such as fruits, vegetables, chilies, meats, tortillas and dairy products are some of those that have become more expensive in recent months.
These are part of some of the products mentioned by the president, Andrés Manuel López Obrador, which will enter a price protection program to counteract the impact of inflation on the food security of families.
The President announced that it is not about price control, but about guaranteed prices and that private initiative will participate without impositions. He also mentioned that there are 24 products that will enter the project, including rice, corn, beans and milk. Inflation has become a global problem.