Mexico's inflation stays above 4% as food and energy costs surge
Mexico’s inflation remained stubbornly high in April, staying above 4% for a full year. The latest figures show prices still climbing, though the annual rate eased slightly to 4.45%. Rising food and energy costs continued to push up living expenses across the country. The National Consumer Price Index (INPC) increased by 0.20% in April compared to March. Energy prices led the way, jumping 6.16% in a single month. This included higher urban bus fares and LP gas costs, which fed into broader inflation.
Food prices also surged, with tomatoes and chili peppers seeing sharp rises. Tomato prices leapt 19.25% in April alone, marking a staggering 121.1% increase over the past year. Chili peppers followed a similar trend, with annual price hikes exceeding 50%. President Claudia Sheinbaum pointed to reduced supply as the main driver behind these spikes.
Despite a slight easing in core inflation, the rate stayed above 4%, according to economist Alejandro Saldaña. Premium gasoline prices also climbed, adding to the upward pressure on costs across the economy. April’s data confirms inflation remains a persistent issue in Mexico. While the annual rate dipped to 4.45%, food and energy costs kept pressure on household budgets. The government continues to monitor supply shortages and price movements closely.
