CPI m/m (MXN) comes in at 0.03% against 0.19% consensus

Mexico’s Consumer Price Index month over month, CPI m/m, was reported at 0.03% for August 2026. This figure came in below the consensus estimate of 0.19%. The actual print represents a significant surprise against expectations, registering -84.2% below the consensus. The previous month’s reading was -0.27%.

Following the release, USDMXN moved -51 pips five minutes after the data was published. Fifteen minutes post-release, the pair was trading -40 pips from its pre-announcement level. For context, USDMXN has historically shown a median 1-hour move of 34 pips after past CPI m/m releases. Top-quarter releases have seen moves of 44 pips or more. The observed moves so far are within the range of typical volatility for this event.