Mexico inflation accelerates in January as new taxes and tariffs take effect

Consumer prices rose to 3.79 percent in January after the government added new taxes and tariffs. The central bank now expects to reach its target in 2027.

Mexico MXMX reported an acceleration in consumer inflation for January, with headline figures reaching 3.79 percent year-on-year. According to data released by the national statistics agency on February 9, 2026, core inflation also rose to 4.52 percent, marking its highest level since March 2024. This uptick in prices across the nation reflects the immediate impact of several fiscal and trade measures that were implemented at the start of the year.
People shop at a market stall as inflation rises in early January, driven by new taxes and higher import tariffs, with cigarettes and soft drinks among the biggest price gainers, in Monterrey, Mexico, January 22, 2026. REUTERS/Daniel Becerril
People shop at a market stall as inflation rises in early January, driven by new taxes and higher import tariffs, with cigarettes and soft drinks among the biggest price gainers, in Monterrey, Mexico, January 22, 2026. REUTERS/Daniel Becerril
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