Overview
- INEGI reported the expanded basic basket in urban areas now costs 4,756 pesos per person per month, compared with 3,412 pesos in rural areas after a 2.9% annual rise.
- The urban food-only basket increased 4.3% year over year to 2,450.01 pesos per person, while the rural food basket stands at 1,844.15 pesos.
- On a monthly basis, food-basket prices declined 0.2% in urban zones and 0.4% in rural localities in October.
- Eating out (+7.5% y/y), beef steak (+19.4%), and pasteurized milk (+8.6%) were the largest contributors to the urban food-basket increase.
- Entertainment and cultural items along with housing and basic services pressured the expanded basket, and the food-basket rise outpaced October’s 3.57% headline inflation.