After two fortnights with declining readings, inflation in Mexico stood at 3.61% in the first half of November 2025 , mainly due to the increase in the cost of some products such as tomatoes and electricity, according to data from the National Institute of Statistics and Geography (Inegi) , published this Monday.
During the reference period, the National Consumer Price Index (INPC) , which is a measure of average change in the prices of products that make up a basket of goods and services representative of household consumption in the country, registered an increase of 0.47% compared to the previous two weeks.
According to Grupo Financiero Ve por Más (BX+) , the bi-weekly increase was primarily due to rising energy prices. “In particular, the increase in electricity rates due to the end of the summer rate program in 11 cities across the country stood out, as well as the increase in public transportation fares in Mexico City.”
According to Inegi, the core price index – which does not take into account the most volatile goods and services – increased 0.04% biweekly , with a rise in the prices of services of 0.25%, while those of goods decreased 0.19 percent.
The non-core price index —which includes goods and services whose prices are subject to fluctuations, such as weather conditions— rose 1.93% on a bi-weekly basis . Within this index, fruit and vegetable prices increased 1.34%, while energy and regulated tariffs rose 2.92%.
The behavior of the INPC in the first half of November 2025 caused an increase in the price of products such as electricity with 20.70%, air transport with 4.60%, public transport with 4.32% and tomatoes with 3.98 percent.
Conversely, the products with the greatest decrease in their cost during the cycle were avocados with 4.83%, potatoes and other tubers with 2.61%, televisions with a drop of 2.37% and outerwear with a decrease of 1.63 percent.
By state, Sinaloa, Sonora, Baja California Sur, Baja California and Tamaulipas registered the largest increases in the CPI during that period, while Quintana Roo, Aguascalientes, Durango, Chiapas and Nuevo León had variations below the national average.
As the year draws to a close, the Mexican economy is projected to experience a slight slowdown due to global trade shifts. Furthermore, the Consumer Price Index (CPI) figure for the first half of November is above the Bank of Mexico’s (Banxico) target of 3%, with a tolerance range of +/- 1%.
According to BX+, the year-on-year change was pressured by the partial reversal in the non-core index (energy and fresh food), while the core index remained around its highest levels since April 2024, marking six months above 4 percent.
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