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Mexico Inflation June 2023

Mexico: Inflation falls to over two-year low in June

Inflation fell to 5.1% in June, following May’s 5.8%. June’s figure marked the weakest inflation rate since March 2021 and was broadly in line with market expectations. Looking at the details of the release, prices for food, beverages and tobacco rose at a softer rate in June while prices for housing decreased at a quicker pace. However, inflation was still above the Central Bank’s 2.0%–4.0% target range.

Annual average inflation fell to 7.4% in June (May: 7.7%). Meanwhile, core inflation fell to 6.9% in June, from May’s 7.4%.

Lastly, consumer prices increased 0.10% from the previous month in June, contrasting the 0.22% fall recorded in May.

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