Mexicali consumer prices increased almost double than the national average during the first half of March, according to media reports.

La Voz newspaper reported that while countrywide consumer prices climbed 8.12 percent in Baja California’s capital city, prices surged 15.12 percent annually compared to the first two weeks of March 2021.

The report says this is the highest inflation rate in 24 years, mainly caused by lime, avocado, squash and tomato, as well as meat, chicken, bread, eggs and corn tortillas.

Last month the city reported an annual inflation rate of 7.75 percent.

Baja California Economic Studies President Roberto Valero told the newspaper that Mexico’s Federal Reserve Bank, also known as Bank of Mexico, decreased its expected growth rate from 3.2 to 2.4 percent. The agency also estimated that inflation will continue for the next couple years.

At the same time, the Mexican Institute of Social Security has recorded an increase of low-wage jobs, as 90 percent of the 5,246 new jobs paid about $17 a day and almost half of those were temporary jobs.

Leave a Reply

Your email address will not be published. Required fields are marked *