The drop in the price of some agricultural products, such as tomatoes, influenced the slowdown in inflation in the first half of June, which stood at 3.55% at an annual rate , which implied a decrease of 0.11% compared to the previous two weeks, according to the National Consumer Price Index (INPC).
This decline represented the lowest level of the CPI since the second half of October 2025, according to data released this Wednesday by the National Institute of Statistics and Geography (Inegi) .
“The year-on-year headline inflation moderated for the fifth consecutive fortnight, largely reflecting the reversal shown by the non-core index between March and April,” detailed Grupo Financiero Ve por Más (BX+) in an analysis.
According to INEGI, the core inflation index —which excludes goods and services with the most volatile prices— rose 0.19% on a biweekly basis . Within this index, goods prices increased 0.11% and services prices 0.27%.
“The core inflation rate moderated slightly, but remains at high levels, with 26 observations above 4 percent. The goods sector continues to decelerate, reaching its lowest point since May of last year. Conversely, inflation in services maintains higher growth rates compared to the end of last year and its historical average, despite a context of weak economic activity,” explained BX+.
Meanwhile, on a bi-weekly basis, the non-core price index —which includes goods and services whose prices are subject to fluctuations— fell 1.14 percent . Within this index, fruit and vegetable prices dropped 5.24 percent, while energy and regulated tariff prices rose 0.10 percent.
In the first half of June, the products with the largest increases in their cost were avocados with 18.51%, air transport with 13.75%, potatoes and other tubers with 5.76%, package tourist services with an increase of 4.07% and other vegetables and legumes with 2.86% at a bi-weekly rate.
Meanwhile, the products with the greatest price decrease during the cycle were poblano peppers with 28.33%, tomatoes with 23.98%, serrano peppers with a decrease of 15.21%, grapes with 14.59%, eggs with 4.51%, and other fruits with a decrease in their cost of 1.80% every two weeks.
According to Ve por Más’s analysis, the bi-weekly variation in the National Consumer Price Index (INPC) “was the lowest for the first half of June in 21 years. This was due to a sharp drop—even greater than expected—in agricultural products, mainly fruits and vegetables. On the other hand, the report highlighted the increase in prices for air travel, hotels, and tour packages. This latter increase tends to be observed at the beginning of summer; however, this time it was more pronounced than usual, perhaps reflecting the effects of the World Cup.”
The financial institution believes that after moderating in May and June, “ we expect inflation to rebound in July . Furthermore, we still believe that upside risks predominate, although a final resolution of the conflict in the Middle East would marginally help to balance things out.”
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