Mexico Inflation March 2021


Mexico: Inflation hits highest level since December 2018 in March

April 8, 2021

Consumer prices increased 0.83% over the previous month in March, accelerating from February's 0.63% rise. The figure was largely due to rising prices for food, beverages and tobacco. In addition, price pressures for housing increased at a faster rate, while prices for education and recreation gained steam.

Inflation rose to 4.7% in March from February’s 3.8%, moving further above the Central Bank’s 3.0% target. March's figure represented the highest inflation rate since December 2018. Annual average inflation edged up to 3.5% in March (February: 3.4%). Lastly, core inflation ticked up to 4.1% from February’s 3.9%.

Panelists surveyed by FocusEconomics see inflation ending 2021 at 3.7%, which is up 0.1 percentage points from last month’s forecast. For 2022, the panel sees year-end inflation at 3.5%.


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Mexico Inflation Chart

Mexico Inflation March 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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