Has Mexico reined in its inflation rate? Not yet, says Banxico chief

Mexico's annual headline inflation rate was 3.12% in July, down from 3.37% in June, and parked within close distance of the Bank of Mexico's (Banxico) target. Here's why Banxico Governor Victoria Rodríguez Ceja says the inflation fight isn't over.

Mexico Week Key Facts —Inflation. Annual CPI fell to 3.37% in June 2026, the lowest reading since December 2020. —Remittances. Inflows rose 4.2% year-on-year in June 2026, rebounding after a 4.6% drop in 2025. —Rate Decision. Banxico held its policy rate at 6.50% on August 6 and pushed its 3% inflation target to Q4 202