The famine of 1454, the most devastating one recorded for pre-Columbian central Mexico, led to disease, massive migration, and widespread death, but is only vaguely presented in the records. This paper reanalyzes the famine sequence, points out its differing impact on various segments of the population, and examines the long-term consequences for Aztec society. Imperial expansion, which has been suggested as a response, is discounted in favor of agricultural intensification.