The Price Index of the Minimum Consumption Basket (IPCCM) registered an annual variation of 7.15% in October, thus completing 10 months outside the target range and the permissible inflation limit. In addition, it exceeds the variation of the general index, which was 6.2 percent.
Made up of 176 products and 299 generic services, this sub-index was included a year ago in the information released by the National Institute of Statistics and Geography (Inegi) each month as a sub-index of the National Consumer Price Index (INPC).
It includes products that meet nutritional recommendations in the food part and essential goods and services in the non-food part, such as clothing, transport, health, education and recreation, defined by the income poverty lines that the National Evaluation Council of the Social Development Policy (Coneval) employs.
The immediate antecedent of the IPCCM is the Consumer Price Index of the Basic Basket, published since 1998.
Its content does not reflect an updated consumption pattern by excluding current consumer goods and services such as chicken, onion, tomato and other agricultural products as well as services such as water, education, health, taquerías, lunch boxes, among others.
However, Inegi continues to measure it and the information reports a cumulative variation of 78.13 percent, but the institute does not require further information on this basket.
Reach for less
The truth is that inflation, which has been on an upward trajectory for eight months and increasingly moving away from the specific objective of 3%, is felt when we allocate more money to the acquisition of the same basket of goods and services.
It is felt when the typical breakfast of a restaurant, consisting of eggs, coffee and juice or fruit, becomes more expensive and forces the establishment to substitute food for others with more competitive prices; or if we reduce the frequency to eat out to replenish the pantry and thus be able to “stretch the money”, stated the Director of Economic Research at the SAVER Veracruz ThinkLab, Luis Pérez Lezama.
Information from Inegi shows that the food subgroup, which is part of the INPC, has registered an annual fluctuation of 8.31% at the cut of October and has remained on an upward trend since January of this year.
This variation exceeds the 12-month trend reported by general inflation in October, which stood at 6.2 percent.
The same information from Inegi allows us to see how the prices of breakfast components have risen.
After a year, from October 2020 to the same month in 2021, the price of coffee has registered a variation of 4.51%, while milk completed an increase of 7.24% also annually.
Fruits and vegetables bring an annual variation of 5.76%, and in more detail we can find that the orange completes a fluctuation of 11.72% in its price, while the apple brings a variation of 25.60 percent.
If we add eggs to the equation, their price also brings an upward variation of 12.11% per year. If the diner’s taste includes tomato, we must add the annual fluctuation that this vegetable brings, of 2.05% or 27% if you prefer avocado.
And the accompaniment for the egg, which is to choose white bread, which currently presents a variation of 7.37% compared to the price it had in October last year, or the omelette, which presents an annual variation of 16.07 percent.
Reference-www.eleconomista.com.mx