The National Producer Price Index (INPP), including oil, once again showed double-digit growth compared to the year, and an almost invisible month-on-month slowdown in April, according to data published by the National Institute of Statistics and Geography (Inegi).
In the fourth month of the year, producers in Mexico faced a growth in prices of 0.46% compared to March, while at an annual rate prices increased 10.36 percent.
The data for April represents an acceleration compared to the previous month, when producer prices accelerated to 10.17% annually.
The high levels for producers occur in a context where tensions between Russia and Ukraine continue.
It should be noted that as a result of the Russian invasion, oil prices have rebounded, along with different grains, such as wheat and corn.
“Producer prices show no signs of moderation. They went from 10.17 to 10.35% annually, while the international prices of some grains and energy remained high. Production costs for goods and services destined for final consumption went from 7.19 to 7.76% per year,” said Alejandro Saldaña, deputy director of Economic Analysis at Ve por Más (Bx+).
Agricultural sector, the one with the highest increases
By economic activity, it was observed in the Inegi report that it was the agricultural sector that showed the highest price increase during April, with an annual increase of 14.38 percent.
In the case of the industry sector, the increase that producers had to face was 12.65 percent.
Within this secondary sector, it was the mining industry that showed the highest inflation for producers, with an annual rate of 37.31%, followed by construction with 16.34 percent.
In the tertiary sector, where services are included and which continues to recover after being strongly affected by the pandemic, it showed an annual price increase of 5.25%.
Within this activity of the economy, the greatest increase in prices occurred in temporary accommodation and beverage preparation services, with an annual rate of 10.57%, in a month in which demand increased due to the Easter holiday period. .