Economist Roberto Valero said he expects inflation decrease by mid-year after months of high item prices
An economist recently said it is expected high inflation rates to decrease by mid-year.
Baja California State Economic Studies President Roberto Valero told La Crónica newspaper during the first half of March the yearly inflation rate went slightly down to 7.70 percent.
In March of 2022, inflation rates were 8.12 percent.
According to Valero, eggs were the most-affected item in terms of inflation with a price increase of 51 percent. This item is heavily impacting inflation rates, Valero said.
The other item was corn — widely used in Mexican cuisine. Tortilla prices went up 23 percent.
Before the pandemic, a kilogram of tortillas cost 19 pesos or about a dollar. The same kilogram now costs 30 pesos, or close to $2 USD.
“We will see (inflation) will stabilize by mid-year,” Valero told the newspaper.
According to the economist, fish also observed a price increase in the last weeks of up to 15 percent.
The specialist told the newspaper although some items keep their prices high on average inflation is observing a decline.
Nationwide, Mexicali is on the Top-10 cities with the highest inflation rates with 7.70 percent, Valero said.
State among top three in new jobs
The state of Baja California was third nationwide in new jobs during the first quarter of the year.
State Secretary of Economy Kurt Honold said Baja California witnesses the opening of close to 31,000 new jobs in the first three months of 2023.
Based on Mexican Institute of Social Security reports, Sec. Honold said the state contributed 7.3 percent of new jobs in Mexico.
Maquiladora industry contributed 9,565 new jobs, followed by agriculture, livestock, and similar primary activities with 7,934 new jobs.
Services, construction, trade, and social and community services contributed to over 12,000 new jobs combined.
Big companies reported 24,254 new jobs.
Tijuana led with 12,548 jobs, followed by Ensenada with 9,470 and Mexicali with 7,415.
Sec. Honold said job growth this quarter was slightly above last year.
Te puede interesar: Inflation rate declines in February
