Mexico Inflation October 2020

Mexico

Mexico: Inflation inches up to 17-month high in October

November 9, 2020

Consumer prices increased 0.61% over the previous month in October, which was above the 0.23% climb logged in September. October’s pick-up was mainly driven by faster growth in prices for food and non-alcoholic beverages as well as for housing and utilities.

Inflation ticked up from 4.0% in September to 4.1% in October, marking the highest reading since May 2019 and slightly overshooting Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation held steady at September’s 3.3%. For its part, core inflation remained stable at 4.0% for the third month running in October.

FocusEconomics panelists expect inflation to end 2021 at 3.5% and 2022 at 3.4%.


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Mexico Inflation October 20 20

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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