Mexico Inflation July 2020

Mexico

Mexico: Inflation increases for third successive month in July

August 7, 2020

Consumer prices rose 0.66% in July over the previous month, which was above the 0.55% increase logged in June. The result was largely driven by a strong rebound in prices for food and non-alcoholic beverages.

Inflation rose for the third month running, coming in at 3.6% in July (June: 3.3%). Thus, it moved further above the midpoint of Banxico’s target range of 2.0%–4.0%. Meanwhile, annual average inflation held steady at June’s 3.1% in July. For its part, core inflation edged up to 3.9% from 3.7% in the previous month.

FocusEconomics panelists expect inflation to end 2020 at 3.0% and 2021 at 3.4%.


Author:, Economist

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Mexico Inflation July 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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