Mexico's Inflation Rises in January 2026: Which Products Saw Price Increases?

The beginning of 2026 has been marked by an upward movement in the cost of living, according to INEGI. As per the National Consumer Price Index (NCPI) report published on February 9th, general inflation in Mexico saw a monthly increase of 0.38%, positioning the annual rate at 3.79%. Compared to the same period in 2025, when annual inflation stood at 3.59%, the current data reveals a tightening in consumer price trajectory. For structural analysis, the key data point lies in the core price index, which excludes highly volatile goods and services to observe the market’s true trend. This indicator registered a monthly increase of 0.60%, reaching an annual variation of 4.52%. Within this core,

goods showed an increase of 0.59%, while services—a component often more challenging to manage—rose by 0.61%. Meanwhile, the non-core index, which includes agricultural products and energy, presented a monthly decrease of 0.36%, although it maintains a positive annual variation of 1.39%.

Winners and Losers in the Basic Basket

The statistics translate into heterogeneous variations at the consumer level. During January, certain products and services exerted significant pressure on the general index, while others offered seasonal relief:

Products with the highest increases:

Lemon: 21.21%
Cigarettes: 14.51%
Bananas: 12.96%
Soft drinks: 5.53%

Products with the largest decreases:

Air transport: -36.64%
Serrano chili: -25.51%
Other chilies: -12.19%
Lettuce and cabbage: -10.43%

The report also outlines an uneven map of price increases. The federal entities with the highest price variations during the first month of the year were Yucatán (1.17%), Quintana Roo (1.15%), and Campeche (0.98%). At the opposite end, the state of Baja California Sur registered a negative variation of 0.11%, positioning itself as the entity with the lowest inflationary pressure at the start of the year.