After four months of rising inflation, inflation in Mexico slowed in June 2025, giving some relief to consumers, who were paying more due to the increase in prices for some basic products, especially agricultural products.According to the National Institute of Statistics and Geography (INEGI) , the National Consumer Price Index (INPC) stood at 4.32% last June compared to its annual comparison, due to the drop in the cost of some fruits and vegetables.
In the sixth month of the year, the INPC reported a monthly variation of 0.28%, while the underlying price index – which excludes goods and services with more volatile prices or those that do not respond to market conditions – increased 0.39% on a monthly basis, with an increase in the price of merchandise of 0.41% and of services of 0.38 percent .
Meanwhile, the non-core price index —which includes goods and services whose prices are more volatile and subject to significant fluctuations, such as weather conditions and other factors—decreased by 0.10 percent monthly . Domestically, fruit and vegetable prices fell 1.39 percent , and energy prices fell 0.30 percent .
The products that saw the greatest increases during the period were carrots , with 13.19%; air transport , with 7.23%; pork , with 1.52%; and beef , with 1.35%.
On the other hand, poblano peppers , with 16.19%; guava , with 15.63%; serrano peppers , with 15.30%; papaya , with 14%; zucchini , with 9.95%; and lemons , with 9.71%, were the products that saw the greatest price decreases in June 2025.
Among the states with the largest increases in the National Consumer Price Index (NCPI) are Chiapas, Querétaro, Oaxaca, Aguascalientes, and Baja California. Meanwhile, the State of Mexico, Sinaloa, Tlaxcala, Baja California Sur, and Zacatecas were among the states with variations below the national average.
With the June figure showing a decrease in the INPC compared to last May, when it stood at 4.42% in its annual measurement, inflation remains above the Bank of Mexico’s (Banxico) target of 3%, with a variability interval of +/- 1 percent.
It’s worth remembering that at the end of June, Banxico lowered its benchmark interest rate by half a percentage point for the fourth consecutive time, the effect of which is reflected in cheaper loans for consumers.
The central bank also indicated that it will continue to consider additional cuts, reflecting the challenging economic environment in Mexico and around the world, exacerbated by tariff uncertainty.
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