FX.co ★ Mexico Annual Inflation Accelerates as Expected

Mexico's annual inflation rate accelerated to 3.26% in August 2026 from 3.12% in July. The figure was broadly in line with market expectations but moved further away from Banxico’s 3% target for the first time in five months.

Price growth picked up sharply for food, with inflation rising to 1.49% from 0.78% in July, and for transport, which increased to 3.43% from 3.21%. Additional upward pressure came from higher inflation in clothing and footwear (2.16% vs 1.6%), recreation and culture (3.85% vs 3.63%), and education (6.02% vs 5.91%).

By contrast, energy inflation slowed markedly to 0.81% from 1.16%, while price growth also eased for housing and utilities (3.06% vs 3.23%). Core inflation moderated as well, slipping to 3.88% from 3.95%.

On a monthly basis, consumer prices rose 0.2%, quickening from a 0.03% increase in the previous month.