How will inflation be measured now?
Based on the 2022 National Household Income and Expenditure Survey (ENIGH), Inegi will reconfigure the basket used to determine inflation in Mexico.
“We expect to see the effects of changes in spending and consumption patterns resulting from the pandemic. With the update, the basket is expected to reach 307 products and the number of cities (55) will remain the same,” Citibanamex said in a report.
Analysts expect the new inflation measurement to bring changes to pet products and services as well as streaming platforms.
How often is this measurement updated?
“In accordance with international practices, it is recommended that the weights of the basket of goods and services be updated to calculate the national consumer price index once every five years, to reflect changes in household consumption patterns,” Citibanamex noted.
The last update occurred in 2018 and at that time some services such as dog grooming were included for the first time.
The generic products that disappeared were water heaters and national long-distance service, while the new products included products such as soy milk and tea, as well as home repair, school transportation, parcel delivery and pet services.
