“Cancún and Chetumal Prices Soar: Latest Inflation Trends Revealed!”

Cancún, a major city in Quintana Roo, Mexico, has once again experienced one of the country's highest price increases. After a five-month reprieve, prices in Cancún rose by 0.44% in the first half of August compared to the last two weeks of July. This places Cancún third in the country for price increases, according to data from the National Institute of Statistics and Geography (Inegi).

However, Cancún wasn't the only city affected. Chetumal also saw a price increase of 0.22% during the same period. The last time a city experienced a similar price increase was in the second half of March, when Cancún saw a significant 0.48% increase. This trend led to Quintana Roo becoming the second highest region in Mexico for inflation variation.

In July, inflation in Quintana Roo remained steady at 5.3%. However, in August, it rose by 0.36%, even as the national inflation indicator fell. The products with the most significant price increases were clothing, footwear, accessories, furniture, appliances, domestic accessories, health and personal care items, transportation, education and recreation, and other services.

Nationally, the products with the most substantial price increases were lemons and zucchinis, with increases of 8.37% and 7.38% respectively. Electricity and eggs also saw increases of 1.90% and 1.75%, while high school and university fees experienced inflation of 2.02% and 1.51%.

According to Inegi, "In the first half of August 2024, the National Consumer Price Index (INPC) decreased by 0.03% compared to the previous two weeks. In the same period in 2023, it increased by 0.32%".

The Ministry of Agriculture and Rural Development noted that "food, beverages and tobacco" make up 30.3% of the price indicator, significantly impacting national inflation. Agricultural products represent 5.1% and livestock 6.6%.

The Ministry also pointed out that the zucchini harvest in the sixth month of this year was only 18,494 tons, a decrease of 13,078 tons compared to the previous year. This decrease in supply could be a factor in the 7.38% price increase for zucchini in the first half of August.