Mexico Inflation August 2022

Mexico

Mexico: Inflation rises in August

September 8, 2022

Inflation rose to 8.7% in August from July’s 8.2%. August's figure was the highest inflation rate since December 2000 and was more than double the Central Bank’s 2.0%–4.0% target range. Looking at the details of the release, prices for food, beverages and tobacco, housing and transport increased at a faster rate in August than in July.

Annual average inflation edged up to 7.4% in August (July: 7.2%). Meanwhile, core inflation rose to 8.1% in August, from July’s 7.7%.

Lastly, consumer prices increased 0.70% in August over the previous month, a marginally smaller increase than the 0.74% rise logged in July.

Panelists surveyed by FocusEconomics see inflation ending 2022 at 6.7%, which is up 0.2 percentage points from last month’s forecast. For 2023, the panel sees year-end inflation at 4.4%.


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Mexico Inflation August 2022

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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