The downward trend in inflation in Mexico continued in the first half of May 2026, reaching 4.11% at an annual rate , which implied a decrease of 0.16% compared to the previous two weeks, according to the National Consumer Price Index (INPC) of the National Institute of Statistics and Geography (Inegi) .
The core price index —which excludes goods and services with volatile prices— increased 0.13% on a biweekly basis, with a rise in the prices of goods of 0.09% and in those of services of 0.17%.
The non-core price index —which includes goods and services whose prices are subject to fluctuations—fell 1.14% on a bi-weekly basis. Within this index, fruit and vegetable prices dropped 0.53%, and energy and regulated tariff prices fell 1.64% on a bi-weekly basis.
Although inflation saw a slight decrease during the comparison period, the price of some products continues to put pressure on Mexicans’ wallets, such as potatoes and other tubers , which increased in cost by 5.46%, tomatoes with an increase of 5.39%, air transport with 4.34%, and LP domestic gas with 1.81% every two weeks.
Conversely, cucumber was the product that decreased the most with a drop of 22.16%, followed by green tomato with a drop of 18.59%, electricity with 17.88%, serrano pepper with 11.21%, lemon with 9.78% and egg with a decrease of 2.37% fortnightly.
By state, Hidalgo, the State of Mexico, and Jalisco led the bi-weekly variations, exceeding the national average. Meanwhile, Sinaloa, Sonora, and Baja California Sur reported the smallest increases in the first half of May.
The decrease in inflation during the cycle reflects an environment of slight stability in electricity prices; however, it also signals higher household expenses due to the increase in the price of some everyday consumer products.
According to estimates from Grupo Financiero BASE , inflation will close 2026 at 4.2 percent , a figure that is still outside the target range of the Bank of Mexico (Banxico) , which is 3% +/-1 percentage point.
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