Mexico’s annual inflation rate stood at 3.12% in July 2026, while the National Consumer Price Index (INPC) rose just 0.03% from the previous month, according to Mexico’s National Institute of Statistics and Geography (INEGI).
Core inflation, which excludes some of the most volatile price categories, increased 0.23% month over month and reached 3.95% annually. Meanwhile, the non-core index declined 0.67% from June.
Among the items putting the most upward pressure on consumer prices, onions rose 18.97% during the month. Owner-occupied housing costs increased 0.26%, while prices at small restaurants, food stands and similar establishments climbed 0.37%.
On the downside, tomato prices fell 29.20%, making them the largest individual drag on the monthly index. Domestic LPG prices declined 1.00%, while vehicle prices were down 0.54%.
The figures show that movements in agricultural products and energy prices played an important role in Mexico’s inflation performance during July.
Source: Puente Libre MX
