Overview
- INEGI’s July 2026 update shows the urban canasta básica at 4,884.09 pesos and the urban food basket at 2,545.72 pesos per person, with urban food up 3.8% year‑on‑year versus 3.1% general inflation.
- Rural food costs rose more slowly to 1,894.69 pesos per person with a 2.0% annual increase, and poverty‑line incomes climbed 3.5% in cities and 2.9% in rural areas.
- INEGI identified eating out, potato and onion price jumps as the main drivers of urban increases, including a roughly 62% rise in potatoes and 33% rise in onions.
- July marked a third consecutive month of moderation in annual food‑basket growth with month‑on‑month contractions of 0.3% in urban baskets and 0.7% in rural baskets.
- Regional and international context includes unusually low food inflation in Michoacán and softer demand signals abroad such as a 3.4% U.S. CPI in July and an eight‑month drop in Argentine private consumption, which could shape Mexican policy and market expectations.