Mexico October 2026 inflation, Digi Mart USA News (Mexico): Inflation in Mexico in October 2026 accelerated again, reaching 3.75% on an annual basis. The increase was driven mainly by higher electricity prices, certain fruits and vegetables, and services.
Among the sharpest monthly increases were green tomatoes, which rose 35.58% in one month, and electricity, whose price climbed 18.51%.
According to the National Institute of Statistics and Geography (Inegi), the National Consumer Price Index (INPC) recorded a monthly increase of 0.65% in October. With this result, inflation posted its third consecutive month of acceleration, after reaching 3.12% in July, 3.26% in August and 3.45% in September.
The figure also exceeded the 3.65% annual expectation of economists surveyed by Reuters.
Inegi reported that annual inflation rose from 3.45% in September to 3.75% in October. Although the indicator remained within the Banco de Mexico variability range of 2% to 4%, it moved further away from the bank’s permanent 3% target.
Compared with October 2025, when monthly inflation was 0.36% and annual inflation was 3.57%, price increases this year showed greater pressure on household spending.
The monthly rise of 0.65% was related to increases in everyday consumer products and services, although some foods also registered price reductions.
The Inegi report identified several products and services with significant increases during October. Green tomatoes led the percentage increases, while electricity stood out for its impact on the overall index.
The increase in electricity was linked to the end of the summer subsidy in 18 cities included in the National Consumer Price Index. As a result, some households began paying higher electricity rates after the support period applied during the hottest months ended.
It is important to distinguish between a product’s percentage increase and its contribution to overall inflation. Although green tomatoes had the sharpest increase among the items mentioned, electricity had a greater incidence on the index result.
Not all basic basket products rose in price. During October, some foods declined, partially moderating increases in other products.
Prices for internet, telephone and pay television packages also fell 2.48%.
On an annual comparison, however, fresh food showed a different picture: fruits and vegetables accumulated an increase of 13.19% compared with October 2025.
According to Inegi, fruits and vegetables recorded an annual increase of 13.19%, while livestock products declined 3.61%. Overall, agricultural products rose 2.99% annually.
The non-core index, which includes agricultural products, energy and government-authorized rates, advanced 1.75% monthly and 3.59% annually.
Core inflation, which excludes agricultural products, energy and government-authorized rates, also showed pressure. In October it stood at 3.80% annually, compared with 3.75% in September.
During the month it rose 0.34%, driven by a 0.44% increase in services and a 0.22% increase in goods.
On an annual basis, services rose 4.32%, while goods increased 3.25%.
Among services, the largest increases included insurance and financial services, up 7.55% annually; alcoholic beverages and tobacco, up 7%; and restaurants and accommodation services, up 6.20%.
Among goods, processed foods, beverages and tobacco rose 4.53%, while non-food goods increased 2.15%.
The minimum consumption basket, made up of 170 goods and services, rose 0.61% during October and accumulated an annual increase of 3.59%.
The data show that price increases are not limited to food: they also affect services, housing, education and other everyday expenses.
With annual inflation at 3.75%, price trends in the coming months will be key to determining whether pressure on household budgets begins to ease or continues to rise.
