Economics
Avocado’s 19% Price Spike Drives Mexico Inflation Amid Fertilizer Shortages
- Staple food was the biggest inflation contributor last month
- Mexico’s headline inflation remains close to 21-year high
Workers sort avocados into boxes at the Grupo Aguacatero Mexicano (Gamex) packing facility in Periban, Michoacan state, Mexico, on Thursday, Sept. 23, 2021.
Photographer: Jeoffrey Guillemard/BloombergThis article is for subscribers only.
Avocado prices led inflation in Mexico last month, advancing at the fastest pace in over a year, as higher fertilizer costs and supply chain disruptions continue to hit the fruit used for guacamole.
The price of avocados jumped 19% in May compared to the month before and was responsible for 0.07 percentage points of headline month-on-month inflation, above any other product including fuels, Mexico’s national statistics institute reported Thursday.