Mexico inflation rises to 3.26% in August

Mexico's annual inflation rose to 3.26% in August, breaking a four-month period of deceleration. According to data from the National Institute of Statistics and Geography (INEGI), the monthly Consumer Price Index (CPI) increased by 0.20% compared to July.

The uptick was primarily driven by food prices. Notable increases were recorded for onion, which rose 32.70%, serrano chili at 19.61%, lemon at 11.17%, and eggs at 8.91%. Other services seeing price hikes included university tuition, taxis, and public transportation.

Despite the rise in general inflation, the core inflation index—which excludes volatile items like energy and fresh foods—showed a continued decline, falling to 3.88% annually from 3.95% in July. This result remains within the Bank of Mexico's target range of 3% plus or minus one percentage point.