Mexico energy inflation, USA News (Mexico City): While energy prices continue to pressure inflation on a global scale, Mexico remains among the economies with the lowest increases in this sector, recording an annual variation of just 0.9% in August 2026.
According to data from the Organisation for Economic Co-operation and Development (OECD), this result placed the country in the 14th position on the list, trailing various economies that face higher pressures on energy costs.
Global Energy Price Comparisons
At the top of the energy price index is Turkey, leading the list with a rate of 40.2%, followed by Lithuania at 26.1% and New Zealand at 23.1%. Europe also experiences strong impacts from rising energy costs: Italy reported energy inflation of 17.1%, Spain 16.9%, and France 16.4%.
Even within North America, Mexico’s trade partners face steeper increases, with the United States recording an annual variation of 16.3% and Canada reaching 15.4%. Further down the table are economies such as the United Kingdom at 13.8%, Australia at 11.6%, Germany at 11.1%, South Korea at 7.7%, and Colombia at 4%.
Unlike these nations, which reported double-digit increases in energy prices, Mexico maintained a marginal variation, placing it among the economies with lower inflationary pressures in this category. Positioned below Mexico were only countries experiencing energy deflation—meaning negative price variations—such as Japan at -0.7%, Hungary at -1%, and Iceland at -11.2%.
Global Market Behavior
World energy prices have faced a sharp upward shock due to intensifying geopolitical conflicts in the Middle East and Ukraine. According to World Bank projections, the energy price index is expected to close 2026 with a cumulative increase of 32%, reversing three consecutive years of declines and raising the cost of living and industrial production globally.
Regarding oil, Brent crude was projected to average near $91 per barrel during the year. However, geopolitical tensions have driven its quotation above $115 per barrel, while recording an annual gain close to 92% by the end of October.
Meanwhile, refined fuel prices, such as diesel and gasoline, have also posted sharp increases. Diesel, a key input for cargo transport, accumulated a 26% rise since February, eliminating the historical price gap it maintained against gasoline. Natural gas in Europe has nearly doubled in price compared to previous yearly averages.
