Mexico inflation falls to 3.12% in July 2026
The National Institute of Statistics and Geography (INEGI) reported that Mexico's annual consumer‑price inflation slowed to 3.12 % in July 2026, the lowest level since May 2020 and down from 3.37 % in June. Core (underlying) inflation was 3.95 % year‑over‑year, while the non‑core index fell 0.67 % monthly.
President Claudia Sheinbaum attributed the decline to voluntary agreements – the “Paquete Contra la Inflación y la Carestía” (PACIC) that caps a basket of 24 basic goods at 913 pesos per week and price caps on gasoline (24 pesos per litre) and diesel (27 pesos per litre). She warned that without these measures inflation could be roughly double.
The Bank of Mexico (Banxico) kept its benchmark interest rate unchanged at 6.5 % on August 7, citing the disinflation trend and a cautious outlook amid external risks. Following the data, the peso appreciated about 0.58 % against the U.S. dollar, trading around 17.19 pesos per dollar.
Entities: Banco de México (Banxico) · Bank of Mexico · Bank of Mexico (Banxico) · Central Bank of Nicaragua · Claudia Sheinbaum · Instituto Nacional de Estadística y Geografía (INEGI) · Mexican peso · Mexico · Paquete Contra la Inflación y la Carestía (PACIC)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 3 SOURCES] Core (underlying) inflation was 3.95 % year‑over‑year in July 2026. (Reuters report)
- [● 3 SOURCES] Banxico kept its benchmark interest rate at 6.5 % on 7 August 2026. (Banxico announcement)
- [● 14 SOURCES] Mexico's annual inflation was 3.12 % in July 2026. (INEGI data)
- [● 4 SOURCES] The PACIC program caps a basket of 24 basic goods at 913 pesos per week. (Sheinbaum statements)
- [● 4 SOURCES] President Claudia Sheinbaum said that without the PACIC and gasoline/diesel agreements inflation would be at least double. (Sheinbaum press conference)
- [● 13 SOURCES] The July 2026 inflation rate was the lowest level since May 2020. (INEGI data)
- [○ 1 SOURCE] The Mexican peso rose about 0.58 % against the U.S. dollar, trading near 17.19 pesos per dollar after the inflation data. (Bloomberg market report)
- [● 14 SOURCES] Inflation fell from 3.37 % in June 2026 to 3.12 % in July 2026. (INEGI data)