The annual record for Mexican food inflation was 6%, which is five times the average reported by the countries of the organization.
Food inflation in Mexico, recorded last November, was the second highest among member countries of the Organization for Economic Cooperation and Development (OECD).
The annual record for Mexican food inflation was 6%, which is five times the average reported by the countries of the organization, which in this same segment, observed a variation of 1.2%, also annual.
When ranking the inflation of the member countries based on the highest food inflation, only the one registered by Turkey, which in November was 48.6% annually, is above Mexico.
The president of the National Alliance of Small Merchants (ANPEC), Cuauhtémoc Rivera, had already warned that the variation in food inflation is almost double the inflation target of 3 percent.
This indicates, he commented, "that the January slope that Mexican families are experiencing began in the latter part of 2024."
According to monthly inflation statistics published by the OECD, the five countries that, along with Mexico and Turkey, recorded the largest variations in food inflation in the penultimate month of 2024 were: Japan (5.6%); Estonia (5.4%); Israel (5%); Poland (4.8%) and the Slovak Republic, 4.7% per year.
The National Institute of Statistics and Geography (INEGI) reported in November that inflation reached its lowest level since March 2024 when it stood at 4.42%, driven mainly by the non-core component that includes agricultural products, such as fruits and vegetables.
This component of inflation tends to present more volatility in its prices, due to the impact of climatic factors.
GENERAL INFLATION MODERATES IN THE OECD
Inflation in OECD countries moderated in November, reaching 4.5 percent. This annual variation was similar to that recorded in October and is far from the 5.8% reached in the same month of 2023.
According to the information provided by the organization, Mexican inflation rose 4.3% annually in November, which was below the average for the Paris-based organization.
A detailed look at the information reveals that three of the 38 OECD countries showed a general inflation variation of over 4.5 percent in November.
The countries with the highest inflation rates than Mexico within the OECD were Poland, Iceland, Colombia and, once again, the leader, Turkey, which recorded a variation of 62 percent.
ENERGY INFLATION
As every month, the OECD also presents comparative statistics for energy inflation and highlighted that inflation in this segment reached an annual increase of 1.2%, which contrasts with the negative figures observed since May of last year.
Compared to Mexico, the inflation of energy prices in the Latin American country, at 5.2%, was four times higher than the average for OECD countries, which saw a variation of 1.2%.
