Mexico inflation October 2026, Digi Mart USA News (Mexico): Mexico’s overall inflation accelerated for a third consecutive month, reaching 3.75 percent annually in October 2026, according to data from Inegi, the national statistics agency. The increase was driven mainly by seasonal rises in electricity tariffs, along with higher prices for LP gas, certain fruits and vegetables such as tomatoes and zucchini, and tourism services, particularly airfares and travel packages.
The figure was well above market expectations of 0.51 percent monthly and 3.61 percent annually. It was the fastest annual pace since May and moves closer to the upper end of the 4 percent target of Banco de Mexico, the central bank’s price stability goal.
Inegi reported that the National Consumer Price Index (INPC) rose 0.65 percent monthly in October, the highest reading for an October since 2021. Electricity prices recorded the largest upward contribution, climbing 18.51 percent monthly after a seasonal summer subsidy program ended.
Domestic LP gas increased 3.67 percent monthly, and air transport rose 26.36 percent, a change closely tied to higher oil prices. Tomatoes rose 9.68 percent, tomatoes in another category rose 35.58 percent, and eggs rose 2.16 percent.
Core inflation, which makes up 76 percent of the INPC and excludes volatile products and items not driven by market conditions, stood at 3.80 percent. The non-core index, which includes volatile prices, rose sharply to 3.59 percent annually.
Alfredo Coutino, Latin America director at Moody’s Analytics, a firm independent of the sovereign risk rating business, said the rise in inflation reflects the normalization of agricultural prices and higher energy costs, as well as underlying prices that are trending upward and leading the increase.
Producer prices also climbed. Inegi’s National Producer Price Index (INPP), which tracks a fixed basket of goods and services including oil, rose 1.92 percent monthly in October and 5.60 percent from the same month in 2025.
In October 2025, the index had risen 0.26 percent monthly and 2.95 percent annually.
The index for intermediate goods and services, including oil, increased 1.88 percent monthly and 5.85 percent annually, compared with gains of 0.09 percent and 3.08 percent in October 2025. The index for final goods and services, including oil, rose 1.94 percent from September and 5.51 percent annually, up from 0.33 percent monthly and 2.91 percent annually a year earlier.
