Mexico Inflation October 2021


Mexico: Inflation increases in October

November 8, 2021

Consumer prices increased 0.84% over the previous month in October, accelerating from the 0.62% increase logged in September. October's uptick marked the highest reading since January. Looking at the details of the release, prices for food, beverages and tobacco rose at a slower pace in October. In contrast, prices for housing increased at a faster pace.

Inflation ticked up to 6.2% in October, following September’s 6.0%, well above the Central Bank’s 2.0%–4.0% target range. October's reading represented the highest inflation rate since December 2017. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 5.0% in October (September: 4.8%). Finally, core inflation rose to 5.2% in October, from September’s 4.9%.

Panelists surveyed by FocusEconomics see inflation ending 2022 at 4.0%, which is up 0.3 percentage points from last month’s forecast. For 2023, the panel sees year-end inflation at 3.5%.


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Mexico Inflation Chart

Mexico Inflation October 2021 0

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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