"In November 2022, the National Consumer Price Index (NCPI) rose 0.58% compared to the previous month. As a result, annual headline inflation was 7.8%. In the same month of 2021, monthly inflation was 1.14%, and annual inflation was 7.37%," INEGI said in a report.
The institute said this is the lowest inflation rate in the last six months - it was 8.4% in October, and it reached 8.76% in September.
The Mexican government has been combating rising prices in the country since May. At first, the government suspended import and export duties on food products and animal feed and limited prices of fuel, electricity, communication services, and public services.
Inflation in Mexico hit a 20-year high in 2022, and the country's central bank has raised key rate seven times this year to 10%, an all-time record.