Mexican annual inflation eased for the sixth straight month to hit 4.79% in July 2023, the lowest since March of 2021, matching market forecasts. Inflation has been steadily cooling since February of this year, but remains above Banxico’s target of 3%, plus or minus a percentage point. Prices softened primarily for food & non-alcoholic beverages (7.31% vs 7.68% in June); alcoholic beverages & tobacco (7% vs 7.63%); miscellaneous goods & services (8.81% vs 9.07%); restaurants & hotels (9.92% vs 10.34%) and transportation (3.65% vs 3.81%). Moreover, faster declines were recorded in prices of housing & utilities (-1.61% vs -1.09%) and communications (-3.75% sv -3.67%). The annual core inflation rate also fell, but slightly less than the headline figure to a near 1-1/2-year low of 6.64%, down from 6.89% the month before. Compared to the previous month, the CPI inched up 0.48%, the most in five months, broadly in line with market estimates of 0.49%. source: Instituto Nacional de Estadística y Geografía (INEGI)

Inflation Rate in Mexico averaged 22.91 percent from 1974 until 2023, reaching an all time high of 179.73 percent in February of 1988 and a record low of 2.13 percent in December of 2015. This page provides - Mexico Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Inflation Rate in Mexico is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico Inflation Rate is projected to trend around 4.00 percent in 2024 and 3.00 percent in 2025, according to our econometric models.

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Mexico Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-07 12:00 PM Jun 5.06% 5.84% 5.02% 4.98%
2023-08-09 12:00 PM Jul 4.79% 5.06% 4.79% 4.8%
2023-09-07 12:00 PM Aug 4.79%


Related Last Previous Unit Reference
Inflation Rate 4.79 5.06 percent Jul 2023
Inflation Rate MoM 0.48 0.10 percent Jul 2023
Consumer Price Index CPI 128.83 128.21 points Jul 2023
Core Inflation Rate 6.64 6.89 percent Jul 2023
Core Consumer Prices 129.51 129.01 points Jul 2023
GDP Deflator 159.21 156.94 points Mar 2023
Producer Prices 120.84 120.66 points Jul 2023
Mid-month Inflation Rate YoY 4.67 4.79 percent Aug 2023
Mid-month Inflation Rate MoM 0.32 0.29 percent Aug 2023
Mid-month Core Inflation Rate YoY 6.21 6.76 percent Aug 2023
Mid-month Core Inflation Rate MoM 0.19 0.24 percent Aug 2023
Food Inflation 7.31 7.68 percent Jul 2023
CPI Transportation 124.26 123.65 points Jul 2023
Producer Prices Change 0.71 1.13 percent Jul 2023
CPI Housing Utilities 112.12 112.22 points Jul 2023

Mexico Inflation Rate
In Mexico, the most important categories in the CPI basket are Nonfood Goods (19.7 percent of the total weight); Housing (18.7 percent) and Other Services (18.4 percent). Food, Beverages and Tobacco account for 14.8 percent and Energy for 9.5 percent. Others include: Products subsidized by the government (5.3 percent); Education (5.1 percent); Meat and Eggs (4.8 percent) and Fruits and Vegetables (3.7 percent). The CPI index has a base of 100 as of December of 2010. The national index tracks 46 large, medium and small cities.
Actual Previous Highest Lowest Dates Unit Frequency
4.79 5.06 179.73 2.13 1974 - 2023 percent Monthly
2018=100

News Stream
Banxico Keeps Rate on Hold at 11.25%
The Bank of Mexico decided to maintain its benchmark policy rate at a record high of 11.25%at its August 2023 meeting, as widely expected. It marked the third session that the board voted for a pause, after raising the borrowing cost for 15 times since June 2021, totaling a cumulative increase of 725 bps. The policy makers noted that annual headline inflation eased to 4.79% in July from 5.06% in June, but still remains high. Inflation expectations for 2023 decreased and the inflation is projected to converge to the target range in the fourth quarter of 2024. With this decision, the monetary policy stance remains in the trajectory required for inflation to converge to its 3% target. The Board will closely monitor inflationary pressures as well as all factors that have an incidence on the foreseen path for inflation and its expectations. The central bank reaffirms its commitment with its primary mandate and the need to continue its efforts to consolidate an environment of low inflation.
2023-08-10
Mexico Inflation Rate Falls for 6th Month as Expected
Mexican annual inflation eased for the sixth straight month to hit 4.79% in July 2023, the lowest since March of 2021, matching market forecasts. Inflation has been steadily cooling since February of this year, but remains above Banxico’s target of 3%, plus or minus a percentage point. Prices softened primarily for food & non-alcoholic beverages (7.31% vs 7.68% in June); alcoholic beverages & tobacco (7% vs 7.63%); miscellaneous goods & services (8.81% vs 9.07%); restaurants & hotels (9.92% vs 10.34%) and transportation (3.65% vs 3.81%). Moreover, faster declines were recorded in prices of housing & utilities (-1.61% vs -1.09%) and communications (-3.75% sv -3.67%). The annual core inflation rate also fell, but slightly less than the headline figure to a near 1-1/2-year low of 6.64%, down from 6.89% the month before. Compared to the previous month, the CPI inched up 0.48%, the most in five months, broadly in line with market estimates of 0.49%.
2023-08-09
Mexico Inflation Rate Softens for 5th Month
Mexican annual inflation fell for the fifth straight month to hit 5.06% in June 2023, the lowest since March of 2021 and compared with market forecasts of 5.02%. Inflation has been steadily cooling since February of this year, but remains above Banxico’s target of 3%, plus or minus a percentage point. There was a generalized slowdown in prices across CPI categories, primarily food & non-alcoholic beverages (7.68% vs 9.10% in May); alcoholic beverages & tobacco (7.63% vs 8.61%); restaurants & hotels (10.34% vs 10.86%) and miscellaneous goods & services (9.07% vs 9.45%). Additionally, prices fell for housing & utilities (-1.09% vs -0.38%) and communications (-3.67% vs -3.19%). The annual core inflation rate also fell, but much less than the headline figure to an over one-year low of 6.89% from 7.39% the month before. Compared to the previous month, the CPI edged up 0.10%, broadly in line with market estimates, after a 0.22% decrease in May, which was the sharpest since April 2020.
2023-07-07