Angola:
Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September....
Inflation in Mexico
Mexico's inflation from 2013 to 2022 was marked by variability but averaged around 4%. The country faced several economic challenges, including currency fluctuations, changes in fiscal policies, and external economic shocks. Inflation was influenced by a mix of domestic and international factors, including oil prices and trade relations. The COVID-19 pandemic temporarily increased inflation, but the Bank of Mexico's monetary policy measures helped stabilize it towards the end of 2022.
Consumer price inflation averaged 4.5% in the ten years to 2022 in Mexico, below the Latin America average of 8.4%. The 2022 average figure was 7.9%. For more inflation information, visit our dedicated page.
Mexico Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Mexico from 2022 to 2017.
Source: Macrobond.
Mexico Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 3.6 | 3.4 | 5.7 | 7.9 | 5.5 |
| Inflation (CPI, ann. var. %, eop) | 2.8 | 3.2 | 7.4 | 7.8 | 4.7 |
Inflation comes in at highest level since June 2023 in June
Inflation came in at 5.0% in June, which was up from May’s 4.7%, and above both market forecasts and the Central Bank’s 2.0%–4.0% target range. June's figure marked the highest inflation rate since June 2023, with the slump in the peso following the early June general elections likely playing a role in the uptick. Looking at subsectors, the increase was driven by rising price pressures for food, beverages and tobacco, and housing. The trend was unchanged, with annual average inflation coming in at May's 4.6% in June. Meanwhile, core inflation fell to 4.1% in June from the previous month's 4.2%. Finally, consumer prices increased 0.38% over the previous month in June, contrasting May's 0.19% drop. June's figure marked the highest reading since January.
On the monetary policy implications, Creditcorp Capital analysts said: “Given the current total inflation, it is likely that most members of the Board will continue to maintain a cautious stance. Therefore, although we continue to anticipate a 25 basis point cut in August 2024, we assign a higher probability to a pause in September 2024, in line with the institution's prolonged caution.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Mexican inflation projections for the next ten years from a panel of 42 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Mexican inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Mexican inflation projections.
Want to get access to the full dataset of Mexican inflation forecasts? Send an email to info@focus-economics.com.
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