A very hard blow to the Mexican economy, something that had not been seen before — a 6% economic inflation rate.
To understand this, we need to know what economic inflation is. According to Banxico, it is “a phenomenon observed in a country’s economy related to the disorderly increase in prices of most goods and services traded in its markets over a prolonged period of time.”
At first glance, this seems small, but when you look behind the door, there is much more than a simple 6% — LP gas alone rose 20.36% above its normal price. So:
How does inflation affect my business?
The real question is: how could it not affect my business?
Simply put, if your business involves a restaurant or anything in the food industry — whether you distribute food or the ingredients to make dishes (vegetables, meat, fruit, etc.) — a large number of products will see their prices rise excessively due to demand:
Serrano chili pepper (54.39%),
Green beans (50.29%),
Tomato (32.25%),
Domestic gas, known as LP (20.63%),
Pork (17.45%),
High-octane gasoline (16.84%)
Natural gas (15.25%).
Seeing this, it is truly better to keep learning how to manage your money wisely so you are not hit hard by these figures and any future economic inflation.