Low income Mexican households were the most affected by inflation. According to the source, the annual inflation rate of the representative consumer basket of households with low income experienced the largest increase in July 2023: 7.09 percent compared to the same month of the previous year. By contrast, the market basket of high income households (those that earn, on average, a monthly income of 54,427 Mexican pesos) registered an inflation rate of 5.64 percent.
Impact of inflation on the consumer basket in Mexico in July 2023, by household's income group
(compared to the same month of the previous year)
Characteristic
Annual inflation rate of the consumer basket
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Taking 2020 as reference, the average household monthly income for the different groups (which correspond to the income deciles 1, 5 and 10) are:
Low income: 3,313 Mexican pesos.
Medium income: 11,122 Mexican pesos.
High income: 54,427 Mexican pesos.
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IMCO. (September 9, 2023). Impact of inflation on the consumer basket in Mexico in July 2023, by household's income group (compared to the same month of the previous year) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1336400/impact-inflation-on-consumer-basket-by-income-level-mexico/
IMCO. "Impact of inflation on the consumer basket in Mexico in July 2023, by household's income group (compared to the same month of the previous year)." Chart. September 9, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1336400/impact-inflation-on-consumer-basket-by-income-level-mexico/
IMCO. (2023). Impact of inflation on the consumer basket in Mexico in July 2023, by household's income group (compared to the same month of the previous year). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1336400/impact-inflation-on-consumer-basket-by-income-level-mexico/
IMCO. "Impact of Inflation on The Consumer Basket in Mexico in July 2023, by Household's Income Group (Compared to The Same Month of The Previous Year)." Statista, Statista Inc., 9 Sep 2023, https://www.statista.com/statistics/1336400/impact-inflation-on-consumer-basket-by-income-level-mexico/
IMCO, Impact of inflation on the consumer basket in Mexico in July 2023, by household's income group (compared to the same month of the previous year) Statista, https://www.statista.com/statistics/1336400/impact-inflation-on-consumer-basket-by-income-level-mexico/ (last visited July 22, 2024)
Impact of inflation on the consumer basket in Mexico in July 2023, by household's income group (compared to the same month of the previous year) [Graph], IMCO, September 9, 2023. [Online]. Available: https://www.statista.com/statistics/1336400/impact-inflation-on-consumer-basket-by-income-level-mexico/
