Mexico Inflation October 2022

Mexico

Mexico: Inflation falls to lowest level since July in October

November 9, 2022

Inflation ticked down to 8.4% in October, which followed September’s 8.7%. October's reading marked the lowest inflation rate since July. Looking at the details of the release, the change in prices for transport and food, beverages and tobacco rose at a quicker pace in October. However, prices for housing grew at a softer pace.

Annual average inflation rose to 7.8% in October (September: 7.6%). Meanwhile, core inflation ticked up to 8.4% in October, from September’s 8.3%.

Lastly, consumer prices rose 0.57% in October over the previous month, largely in line with September's 0.62% increase. October's result marked the weakest reading since May.

Panelists surveyed by FocusEconomics see inflation ending 2023 at 4.8%, which is up 0.1 percentage points from last month’s forecast. For 2024, the panel sees year-end inflation at 3.8%.


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Mexico Inflation October 2022

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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