MEXICO
Analysts
Mauricio González
Former Director of Economic Policy, Finance Ministry
Guillermo Valdés
Former Director, Center of Investigation & National Security
Mariano Ruiz-Funes
Former Director of Financial Policy, Ministry of Finance
Francisco González
Economic Consultant, GEA Grupo de EconomistasDatabanks
Recent Country Insights
Economics: Rising consumer inflation driven by PPI, combined with discordant monetary policy, make for a complex scenario
MEXICO · Report · 16 Jun 2025
Annual inflation in Mexico reached 4.42% in May 2025, with core inflation propelled to 4.06% by rising merchandise and services prices. At the same time, the non-core component increased 5.34% annually, driven especially by meat products (8.25%). Yet despite rising inflation, Banxico has lowered ...
Politics: Morena’s vote was way lower than expected in the Durango and Veracruz municipal elections
MEXICO · Report · 16 Jun 2025
On June 1, the country held its first judicial elections, along with municipal races in Durango and Veracruz. Normally these state elections would not spark much interest nationally. This time, however, the races and their results attracted attention as a possible bellwether to gauge Morena’s for...
Economics: Labor data mirrors struggling economy
MEXICO · Report · 10 Jun 2025
Employment remains in a clear slowdown that began last year and aligned with the weakening of the economy as a whole. The employed population decreased -0.2% yoy in the first quarter and then increased 0.2% in April, bringing the cumulative slippage for the first four months of the year to an ann...
Politics: Judicial elections—a setback for democracy and success for the 4T’s authoritarian impulses
MEXICO · Report · 09 Jun 2025
Mexico’s first ever judicial elections were held on June 1. While they were significant for a variety of reasons, there were no big surprises. The elections were the concretization of Morena, AMLO, and Claudia Sheinbaum’s judicial reform, justified as a way of correcting the “country’s universall...
Politics: High profile CDMX killings spark nationwide concern
MEXICO · Report · 02 Jun 2025 · 1 response
In a country accustomed to alarming levels of violence and a staggering death count, Mexico was nevertheless shocked by the May 20 murder of two close collaborators of Clara Brugada, head of the Mexico City government. The killing of Brugada’s personal secretary and a close advisor was well plann...
Economics: News and indicators as of May point to further economic stalling
MEXICO · Report · 02 Jun 2025
Revised first quarter GDP data showed the economy sputtering to a 0.6% yoy seasonally adjusted rate of growth while all components of industrial activity contracted during the same period. In most branches of activity, the economic indicators for March and those available for April show a greate...
Politics: Ties between organized crime and political figures pose a major challenge to Mexico’s stability and future
MEXICO · Report · 27 May 2025
A key point of contention between the U.S. and Mexican governments has been the link between organized crime and key public officials and politicians. While tariff disputes have their ups and downs, this claim has been a constant for Washington, but has resulted in an unambiguous denial on the pa...
Economics: First quarter GDP and March IGAE anticipate further weakening for the remainder of the year
MEXICO · Report · 27 May 2025
Last week saw the release of revised GDP data for the first quarter of 2025, which showed a 0.6% seasonally adjusted annual rate of growth. The week also saw the IGAE for March, which reported a -0.1% annual decline. In most branches of activity, the economic indicators for March and those availa...
Economics: Familiar official pledges at the Banking Convention fail to address problems in credit access for MSMEs
MEXICO · Report · 19 May 2025
At the latest annual Banking Convention, the Sheinbaum administration served up the familiar petitions to facilitate access to credit for MSMEs (micro, small and medium-sized enterprises) and lower interest rates for that segment of the productive sector. Easier said than done, as history has sho...