Producer prices rise in June: INEGI | Infonor

Domestic production costs have risen considerably compared to last year

Mexico City – According to the National Institute of Statistics and Geography (INEGI), prices of goods and services produced in Mexico increased significantly in June 2024. The National Producer Price Index (INPP), which measures this change, showed a monthly increase of 1.39% and an annual growth of 5.07%. These results contrast sharply with those of June 2023, when the index showed an annual decrease of 0.84%.

Breakdown by Economic Sectors

At the level of economic activities, INEGI reported that:

  • Primary activities: Prices in this sector, which includes agriculture, animal husbandry, fishing and forestry, rose by 0.95% in June compared to May, and by a remarkable 13.29% year-on-year. The product with the greatest increase was avocado, which saw a monthly rise of 24.81%.
  • Secondary Activities: This sector experienced a monthly increase of 1.88%. The increases in mining (6.31%) and in the manufacturing industry (1.84%) stand out. Annually, prices in secondary activities rose by 4.27%.
  • Tertiary Activities: Prices for services such as transport, mail, storage and other services increased by 0.56% in June and 5.13% compared to last year. The temporary accommodation and food preparation sector stood out with a monthly increase of 1.22%.

Variations by Type of Production

By origin of goods and services, the INPP presented the following variations:

  • Intermediate goods: These goods, which are used as inputs in the production of other products, registered an increase of 1.54% monthly and 5.21% annually.
  • Final Goods: Prices of these goods, which are consumed directly or used for capital formation, rose by 1.34% monthly and 5.02% annually. Within this group, products intended for export stood out with a monthly rise of 3.00% and an annual rise of 6.37%.

Main Products with Variations

Among the products whose prices have increased the most are:

  • Raw oil: Up 5.78% monthly.
  • Gas natural: It presented a spectacular increase of 37.13%.
  • Computers and accessories: They increased by 6.16%.
  • Plata: It had an increase of 6.67%.
  • Poultry carcass meat: It rose by 2.86%.
  • Avocado: Increased by 24.81%.

On the other hand, some products experienced price declines, such as tomatoes (-16.02%) and fresh chili peppers (-16.72%).

Conclusion

The increase in the INPP in June 2024 reflects a readjustment in production prices in the country, influenced by significant changes in several key sectors and products. This indicator is vital to understanding national economic trends and suggests that domestic production costs have risen considerably compared to last year.

INEGI will continue to monitor and report these costs to help businesses and consumers make informed decisions in a changing economic environment.


 
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