LatinNews Daily - 10 July 2026

*Mexico’s national statistics institute (Inegi) has released new figures for its consumer price index, showing a monthly deflation rate of 0.27% in June, while annual inflation stood at 3.37%, remaining within the central bank (Banxico)’s target of 3% ± 1.0 percentage point. This compares to monthly deflation of 0.21% in May, when the annual inflation rate stood at 3.94%. The annual rate is below a 3.52% estimate of economists surveyed by Reuters and a 3.50% estimate by analysts polled by Bloomberg, representing the lowest annual rate since December 2020. Core inflation, which excludes volatile items such as food and energy, stood at 0.24% in monthly terms and 4.03% in annual terms. The latest figures come as Banxico has indicated that it will maintain its benchmark interest rate at its current level for the foreseeable future, after pausing its rate-cutting cycle at its last meeting on 25 June, holding the rate at 6.50%. Banxico cited “challenges in the macroeconomic environment, including those arising from the international context”, as the reason behind its decision.

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