In the first half of January 2026, the  National Consumer Price Index (INPC) , which measures the variation in prices of a basket of goods and services, stood at  3.77% annually , which meant an increase of 0.31% compared to the previous half-month.

According to information from the  National Institute of Statistics and Geography (Inegi)  published this Thursday, this increase was driven by a rise in the cost of products such as lemons and cigarettes .

The core inflation index , which excludes goods and services with more volatile prices or those that do not respond to market conditions, rose 0.43% on a bi-weekly basis . Within this index, goods prices increased 0.69% and services prices 0.19%.

Meanwhile, the  non-core price index  —which includes goods and services whose prices are subject to fluctuations, such as weather conditions— fell 0.12% during the period . Within this index, agricultural product prices fell 0.20%, and energy and regulated tariff prices declined 0.06%.

Among the products that registered increases in the period are lemons with 15.21%, cigarettes with 12.22%, soft drinks with 3.97%, tomatoes with 3.45% and electricity with 0.99 percent.

Conversely, air travel saw a 27.30% decrease, due to the end of the year-end holidays and the return to school and work after the Christmas season. Other products that reported price decreases included serrano peppers (10.56%), tourist services (7.52%), eggs (3.95%), and LP gas (1.83%).

Meanwhile, Yucatán, Campeche, and Quintana Roo were the states with the largest increases in the CPI during the cycle; while Durango, Baja California Sur, and Querétaro showed a variation below the national average.

Overall inflation in Mexico accelerated in the first two weeks of 2026 after reaching 3.66% in the last two weeks of 2025. According to analysts, this increase was expected due to the rise in prices of some products, resulting from the post-holiday financial strain.

Among its forecasts for 2026, the Mexican Institute of Finance Executives (IMEF) projected inflation at 3.95 percent. The organization warned that the Mexican economy “faces a scenario of insufficient growth, persistent inflation, and weak investment.”

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El cargo January is tough! Inflation spikes in the first half of 2026 apareció primero en T21.

Inflation in Mexico accelerated again last November, driven by the rise in agricultural products and services such as electricity, after the decrease shown in October, when it stood at 3.57% year-on-year, according to data published this Tuesday by the National Institute of Statistics and Geography (Inegi) .

According to the  National Consumer Price Index (INPC) , which measures the variation in prices of a basket of goods and services, in the eleventh month of the year this indicator stood at  3.80% in its annual measurement .

According to the  Financial Group Ve por Más (BX+) , year-on-year inflation reached a five-year high, and also represented its largest variation for the same month since 2021.

Meanwhile, the  core price index  – which does not take into account the most volatile goods and services –  increased  0.19% monthly and 4.43% annually , with a decrease in the prices of goods of 0.03% and an increase in the prices of services of 0.39% on a monthly basis.

The underlying asset advanced for the third consecutive reading, posting its biggest expansion since March 2024 and marking seven months above 4%, explained BX+.

The  non-core price index  —which includes goods and services whose prices are subject to fluctuations, such as weather conditions—  rose 2.28% month-on-month and 1.73% year-on-year . Within this index, fruit and vegetable prices increased 3.49%, and energy and regulated tariff prices rose 2.97% month-on-month.

In the penultimate month of the year, the products that showed the greatest price increases were serrano peppers with a 24.76% rise, electricity with 20.70%, zucchini with 17.05%, tomatoes with 14.34%, and public transportation with 4.90%.

Conversely, the products with the greatest decrease in their cost during the cycle were  lemon with 7.46%, avocado  with 7.28%,  orange with 3.97%, potato and other tubers  with 3.68% and tequila with a decrease of 2.65 percent.

Among the  states with the largest increases in the National Consumer Price Index (INPC) are Sonora, Sinaloa, and Baja California Sur. Meanwhile, Durango, Quintana Roo, and Yucatán were among the states with variations below the national average.

According to BX+ analysis, although year-on-year growth in the CPI is expected to close the year below 4%, in a context of slow economic dynamism, the inflationary outlook is still complex.

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El cargo Unstoppable! Inflation accelerates in Mexico during November apareció primero en T21.