Mexico’s annual inflation rate fell to a 1-1/2-year low of 6.25% in April 2023, easing from 6.85% in March, and remaining only slightly above market forecasts of 6.23%. However, inflation was still well above the Central Bank’s 2.0%–4.0% target range. Prices grew at a slower pace for several CPI categories, primarily food & non-alcoholic beverages (10.05% vs 11.04% in March); restaurants & hotels (11.31% vs 11.58%); miscellaneous goods & services (9.89% vs 10.25%); furnishings & household equipment (6.67% vs 7.15%); and clothing & footwear (5.60% vs 5.78%). Moreover, prices fell for communications (-3.13% vs -3.22%) and housing & utilities (-0.05% vs 0.63%). The annual core inflation rate remained elevated but fell further to a nine-month low of 7.67%, almost in line with market expectations of 7.7%. On a monthly basis, consumer prices edged down by 0.02% in April, after a 0.27% increase in the prior month and compared with market estimates of a 0.04% fall. source: Instituto Nacional de Estadística y Geografía (INEGI)

Inflation Rate in Mexico averaged 23.00 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 June of 2023.

Inflation Rate in Mexico is expected to be 5.80 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 4.10 percent in 2024 and 3.00 percent in 2025, according to our econometric models.

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Mexico Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-05 12:00 PM Mar 6.85% 7.62% 6.9% 7.0%
2023-05-09 12:00 PM Apr 6.25% 6.85% 6.23% 6.3%
2023-06-08 12:00 PM May 6.25% 5.9% 5.9%


Related Last Previous Unit Reference
Inflation Rate 6.25 6.85 percent Apr 2023
Inflation Rate MoM -0.02 0.27 percent Apr 2023
Consumer Price Index CPI 128.36 128.39 points Apr 2023
Core Inflation Rate 7.67 8.09 percent Apr 2023
Core Consumer Prices 128.21 127.71 points Apr 2023
GDP Deflator 159.21 156.78 points Mar 2023
Producer Prices 121.25 121.26 points Apr 2023
Mid-month Inflation Rate YoY 6.00 6.24 percent May 2023
Mid-month Inflation Rate MoM -0.32 -0.16 percent May 2023
Mid-month Core Inflation Rate YoY 7.45 7.75 percent May 2023
Mid-month Core Inflation Rate MoM 0.18 0.18 percent May 2023
Producer Prices Change 3.05 3.77 percent Apr 2023
Food Inflation 10.05 11.01 percent Apr 2023
CPI Transportation 123.15 122.87 points Apr 2023
CPI Housing Utilities 115.27 117.32 points Apr 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
6.25 6.85 179.73 2.13 1974 - 2023 percent Monthly
2018=100

News Stream
Mexico Inflation Rate Drops Further to 1-1/2-Year Low
Mexico’s annual inflation rate fell to a 1-1/2-year low of 6.25% in April 2023, easing from 6.85% in March, and remaining only slightly above market forecasts of 6.23%. However, inflation was still well above the Central Bank’s 2.0%–4.0% target range. Prices grew at a slower pace for several CPI categories, primarily food & non-alcoholic beverages (10.05% vs 11.04% in March); restaurants & hotels (11.31% vs 11.58%); miscellaneous goods & services (9.89% vs 10.25%); furnishings & household equipment (6.67% vs 7.15%); and clothing & footwear (5.60% vs 5.78%). Moreover, prices fell for communications (-3.13% vs -3.22%) and housing & utilities (-0.05% vs 0.63%). The annual core inflation rate remained elevated but fell further to a nine-month low of 7.67%, almost in line with market expectations of 7.7%. On a monthly basis, consumer prices edged down by 0.02% in April, after a 0.27% increase in the prior month and compared with market estimates of a 0.04% fall.
2023-05-09
Mexican Inflation Slows to 17-Month Low
Mexico’s annual inflation rate fell to 6.86% in March of 2023, the lowest since October 2021, from 7.62% in the previous month and roughly in line with market estimates of 6.9%. Amid a 2.23% annual decline in energy prices, inflation slowed for food and non-alcoholic beverages (11.01% vs 12.29% in February), housing and utilities (0.63% vs 2.13%), transportation (5.36% vs 6.09%), and restaurants and hotels (11.58% vs 12.01%). In the meantime, the annual core inflation rate remained elevated but fell to a seven-month low of 8.09%, marginally ahead of market expectations of 8.07%. On a monthly basis, Mexican consumer prices edged 0.27% higher, slowing from the 0.56% increase in February.
2023-04-05
Mexico Inflation Rate Drops to Near 1-Year Low
Mexico’s annual inflation rate eased to 7.62% in February 2023, down from 7.91% in January, as expected, though still above Banxico's 2%–4.0% target range. It was the lowest reading since March last year, amid slowing prices of food (12.29% vs 12.77% in January); miscellaneous goods & services (10% vs 10.14%); restaurants & hotels (12.01% vs 12.32%); furnishings & household equipment (7.79% vs 8.55%); transportation (6.09% vs 6.53%) and clothing & footwear (6.02% vs 6.18%). The annual core inflation rate fell to a five-month low of 8.29% in February, from 8.45% in the prior month, below market estimates of 8.35%. On a monthly basis, consumer prices went up by 0.56% in February, slowing from a 0.68% increase in January slightly below market expectations of a 0.61% rise. Early in the month, Mexican President Lopez Obrador said he had talked with a number of regional counterparts to launch a joint anti-inflation plan, which would include eliminating some tariffs and other trade measures.
2023-03-09