Inflation Mexico 2023
Average inflation: 5.6%
Current Inflation
Inflation is very high at 5.6%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 7.9%. The lowest inflation was in October at 4.3%.
- Highest month
- January: 7.9%
- Lowest month
- October: 4.3%
- Difference
- 3.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Restaurants and hotels with an average of 9.9%. The lowest price increase was in Communication with an average of -3.1%.
- Highest increase
- Restaurants and hotels: 9.9%
- Lowest increase
- Communication: -3.1%
Historical Context
Current inflation is around the 5-year average of 5.2%.
- 5-year average
- 5.2%
- 10-year average
- 4.7%
- All-time high (2022)
- 7.9%
- All-time low (2015)
- 2.7%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-2.3 percentage point).
- Change vs. previous year
- -2.3 percentage points
- Largest monthly swing
- September: -4.2 percentage points
ECB Target
Inflation is 3.6% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €105.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 7.9% | +0.8 |
| February | 7.6% | +0.3 |
| March | 6.8% | -0.7 |
| April | 6.3% | -1.4 |
| May | 5.8% | -1.9 |
| June | 5.1% | -2.9 |
| July | 4.8% | -3.4 |
| August | 4.6% | -4.1 |
| September | 4.5% | -4.2 |
| October | 4.3% | -4.1 |
| November | 4.3% | -3.5 |
| December | 4.7% | -3.1 |
| Average | 5.6% |
Data source
Data from OECD. Last updated: 11/01/2026.