Mexico Inflation January 2021


Mexico: Inflation climbs in January

February 9, 2021

Consumer prices rose 0.86% over the previous month in January, above the 0.38% rise logged in December 2020. Looking at the details of the release, January’s pick-up was largely driven by faster price growth for housing and transport, and a rebound in food prices.

Inflation edged up from 3.2% in December, which had marked the lowest reading in seven months, to 3.5% in January—remaining within Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation held steady at 3.4% for the third consecutive month in January. Lastly, core inflation came in at 3.8%, matching December’s reading.

FocusEconomics panelists expect inflation to end 2021 at 3.6% and 2022 at 3.4%.


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Mexico Inflation Chart

Mexico Inflation January 2021

Note: Month-on-month and year-on-year changes of consumer price index (CPI) in %.
Source: Mexico National Statistics Institute (INEGI) and FocusEconomics calculations.

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