In December 2025, inflation in Mexico showed a slowdown that placed it within the Bank of Mexico’s (Banxico) target range  of 3% with a variability interval of +/- 1 percent.

According to data from the  National Institute of Statistics and Geography (Inegi) , in the last month of last year, the  National Consumer Price Index (INPC) registered an increase of 0.28% compared to the previous month. With this result, the overall annual inflation rate was 3.69% .

The December 2025 variation represented the lowest price increase for a December since 2020, the year in which the effects of the COVID-19 pandemic were felt.

According to the report, the core price index (which does not take into account the most volatile goods and services, such as food and energy) increased 0.41% month-on-month , with a rise in service prices of 0.48% and merchandise prices of 0.33%.

Meanwhile, the non-core price index—which includes goods and services whose prices are subject to fluctuations, such as weather conditions—fell 0.16% month-on-month . Within this index, agricultural product prices fell 0.66%, while energy and regulated tariff prices rose 0.24%.

Products whose prices are rising or falling

In the last month of 2025, the products with the greatest increases in their cost were green tomatoes with 27.01%, air transport with 19.89%, package tourist services with 5.23%, long-distance bus with 2.14%, and bottled soft drinks with 1 percent.

Conversely, the products with the greatest price decrease during the cycle were  papaya with 10.77%, zucchini with 8.38%, serrano chili with 6.90%, eggs with 4.11%, potatoes and other tubers with 2.69%, and chicken with 1.30 percent.

By state, Quintana Roo, Durango, and Baja California Sur registered the largest increases in the National Consumer Price Index (INPC) during the period. Meanwhile, Zacatecas, Tabasco, and Querétaro were the states with a variation below the national average.

During 2025, inflation in Mexico fluctuated, and since last June it showed a steady slowdown – with some peaks – after settling at 4.32%, following the 4.42% reached in May, which was the highest level of the year.

Last November, the INPC stood at 3.80% due to the rise in agricultural products and services such as electricity.

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El cargo Christmas present! Inflation in Mexico closes 2025 on a downward trend apareció primero en T21.