FX.co ★ Mexico Inflation Rate Picks Up as Expected

Mexico’s annual inflation rate climbed to 3.45% in September 2026, its highest level since May, up from 3.26% in August. The figure was broadly in line with market expectations but pushed inflation further above Banxico’s 3% target. Energy inflation accelerated sharply to 1.48% from 0.81%, while price growth also picked up in transportation (3.51% vs. 3.43%) and housing and utilities (3.33% vs. 3.06%). Food inflation rose to 2.55% from 1.49%, its highest since May, adding further upward pressure. By contrast, inflation in restaurants and hotels eased slightly to 6.19% from 6.27%. Core inflation also continued to moderate, edging down to 3.75% from 3.88%. On a monthly basis, consumer prices increased 0.42%, quickening from a 0.20% rise in August.