In brief
Mexico’s inflation climbed to 3.75 % in October, driven mainly by steep rises in electricity and airfares and moderate gains in tomatoes. Core inflation moved up to 3.80 %. The figures keep the rate within Bank of Mexico’s 3 % ± 1 % target, though private‑sector analysts now expect it to edge up toward 3.9 % by year‑end.
Mexico’s annual inflation rate accelerated to 3.75 % in October, according to data released by the National Institute of Statistics and Geography on Monday, with the monthly consumer price index growing 0.65 percent on the month.
Month‑on‑month, the CPI rose 0.36 percent in October and the annual rate of 3.75 % surpassed the 3.57 % recorded in October 2025, the statistics agency said.
The headline increase was led by electricity rates, which jumped 18.51 percent, and by airfares, up 26.36 percent; tomato prices also added 9.68 percent.
When the most volatile items were removed, core inflation rose 0.34 percent from the previous month and 3.80 percent year‑on‑year.
Both headline and core rates remain inside Banxico’s 3 % ± 1 % policy target, according to the agency.
In a separate report, Banamex projected that annual headline inflation would reach 3.9 percent and core inflation 3.7 percent by the end of the year, while maintaining 3.9 percent forecasts for 2027.
Bloomberg confirmed the October numbers, reporting a 3.75 percent annual print against expectations and a core rate of 3.80 percent versus 3.78 percent estimates.
Mexico News Daily noted that the 3.75 percent figure marks a third straight month of inflation gains, citing price increases of 35.58 percent for green tomatoes, 26.36 percent for air transport, 23.22 percent for pumpkins, and 18.51 percent for electricity.
MarketWatch reported that core goods prices rose 0.22 percent while services climbed 0.44 percent in October, with airfares up 26.4 percent and tourism packages up 8.72 percent.