Inflation in the 12 months through mid-November was 3.29 percent MXCPHI=ECI, the national statistics institute said on Thursday, its highest half-month reading since the second half of March 2015, Reuters reported.
A Reuters poll projected the rate would accelerate to 3.15 percent from 3.09 percent in early October. Mexico's central bank targets inflation of 3 percent.
The price data are the first inflation figures to be released since the surprise victory of U.S. President-elect Donald Trump on Nov. 8.
Trump's win pushed the peso to record lows and prompted the Mexican central bank to raise rates to their highest in over seven years to stop the peso depreciation fanning inflation.
The annual reading of the core price index MXCPIC=ECI, which strips out some volatile food and energy prices, rose to 3.33 percent in early November, its highest since the second half of November 2014.
The core index reflects higher goods costs as the weak peso drives up import prices.
On a monthly basis, Mexican consumer prices MXCPIF=ECI rose 0.77 percent during the first half of November, while the core price index MXCPIH=ECI climbed 0.23 percent.