Inflation Remains Stubbornly High in Mexico, Food Prices Surge

Mexico’s latest inflation numbers released by INEGI (Instituto Nacional de Estadística y Geografía) on June 9th reveal continued fragility in the economy despite official reassurances. For the month of May, inflation rose 0.28% month-over-month, bringing the annual inflation rate to 4.42%. While the central bank and policymakers emphasize easing inflationary pressures, persistently high prices for food staples such as chicken, tomatoes, and beef continue to pinch family budgets.

The core inflation rate, regarded as a more accurate measure of long-term price pressures given its exclusion of volatile items, increased by 0.30% monthly, reaching an annual rate of 4.06%. Meanwhile, the non-core index—which broadly reflects short-term fluctuations due to seasonal and energy factors—increased by 0.23%, now sitting at 5.34% annually. These figures cast doubt over claims that the inflationary environment is meaningfully cooling or returning to desirable levels, especially amid continued price hikes in daily essentials.

Mexico’s annual inflation rate climbed last month to its highest in six months.