Inflation in Mexico reaches its highest level of 2025

This Monday, the The National Institute of Statistics and Geography (INEGI) announced that inflation in Mexico reached its highest level so far in 2025. and the highest in the last semester.

The Institute reported that Inflation rose for the fourth consecutive month and reached 4.42% annually in May. , particularly driven by food and housing prices .

The figure exceeded the Bank of Mexico's (Banxico) target range of 2% to 4% for the first time this year and was above market expectations, which, according to the Citi Mexico survey, predicted annual headline inflation of 4.37% .

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Likewise, Mexico's headline inflation rate exceeded the 3.8% level seen in March as a whole , and also the 4.21% level at which it closed out 2024.

The National Consumer Price Index (INPC) showed a monthly increase of 0.28% in May , while the INEGI (National Institute of Statistics and Census) noted that, in the same period in 2024, monthly inflation fell by 0.19% and annual inflation stood at 4.69%.

The core price index, considered a better measure of price increases because it eliminates highly volatile items, increased 0.3% month-on-month and ended at 4.06% annually , detailed the Inegi in its report.

Within the underlying subgroup, commodities increased by 0.13% for the month and 3.67% for the year .

Services advanced 0.09% monthly and 4.49% annually .

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In non-core sectors, agricultural products rose 0.3% monthly and 6.76% compared to the same period last year .

Energy and government-authorized rates fell by 0.2% in the fifth month of 2025 and stood at 3.93% for the year .

The price index for the minimum consumption basket , comprising 170 products and services, rose 0.29% monthly and 4.37% annually .

Consumer prices closed 2024 with an increase of 4.21% , below market expectations and the 4.66% of 2023, the 7.82% of 2022 and the 7.36% of 2021, both years with the highest level in the last two decades.

The May closing figure is above the Bank of Mexico's 3% target. , which lowered the interest rate to 8.5% in May , its seventh consecutive cut and the second of 50 basis points, in response to the "disinflationary process."

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• Inflation
• Mexican Economy
• Bank of Mexico
• Banxico
• Inegi
• National Institute of Statistics and Geography
• Citi Mexico