Direct Answer

Mexico economic indicators come mainly from INEGI, the national statistics institute, which publishes inflation, GDP, employment, trade and activity data, and from Banco de México, which sets the policy rate and publishes remittances. The releases that most often move rates or the peso are the fortnightly and monthly consumer price index, the quarterly GDP estimates and the central bank's eight scheduled policy announcements a year.

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Mexico Economic Indicators: Investor Reference

This hub covers the major economic indicators released for this country. Each linked indicator page explains what the measure tracks, how it is calculated, when it is released, and how investors interpret changes in the data.

See the international indicators hub for other countries, or the full economic indicators hub for all 15 categories.

Who publishes Mexico's economic data?

INEGI publishes most of the series the hub links: the INPC consumer price index with its core component, quarterly GDP and a timely estimate of it, the monthly IGAE activity indicator, industrial activity, retail trade, the ENOE labor survey and the merchandise trade balance. Consumer confidence is released jointly by INEGI and Banco de México. Banco de México also publishes remittances monthly, on the first banking business day of the month at 9:00. Inflation is released twice a month, GDP quarterly and most other series monthly.

Mexico indicators at a glance

IndicatorWhat it measuresPublished byFrequency
Banxico Policy Ratethe overnight interbank rate target set by the Bank of MexicoBanco de MexicoIrregular
Mexico Consumer Confidencehow confident Mexican households are about their finances and the economyNational Institute of Statistics and Geography of MexicoMonthly
Mexico Core CPIunderlying consumer price inflation in MexicoNational Institute of Statistics and Geography of MexicoTwice monthly
Mexico CPIconsumer price inflation in MexicoNational Institute of Statistics and Geography of MexicoTwice monthly
Mexico GDPthe inflation-adjusted output of the Mexican economyNational Institute of Statistics and Geography of MexicoQuarterly
Mexico Industrial Productionmonthly output across Mexican industryNational Institute of Statistics and Geography of MexicoMonthly
Mexico Remittancesmoney sent home by Mexicans working abroadBanco de MexicoMonthly
Mexico Retail Salesthe volume of retail sales in MexicoNational Institute of Statistics and Geography of MexicoMonthly
Mexico Trade Balancethe gap between Mexico's merchandise exports and importsNational Institute of Statistics and Geography of MexicoMonthly
Mexico Unemploymentthe share of Mexico's labour force without work and seeking itNational Institute of Statistics and Geography of MexicoMonthly

Each row comes from the same source file as the indicator page it links, so the publisher and frequency here match that page.

How does Mexico's central bank set policy?

Banco de México is the autonomous central bank. Under the Constitution its main objective is the stability of the purchasing power of the national currency, which it pursues with a permanent 3% annual inflation target for the INPC and a variability interval of plus or minus one percentage point. Its instrument is the target for the overnight interbank interest rate, decided by the Governing Board. Decisions come in a monetary policy statement on eight scheduled Thursdays a year at 1:00 PM CST, with minutes two weeks later, and the bank reserves the right to act on other dates in extraordinary events.

What is different about Mexico's data?

Which Mexico releases should you read first?

Read Banco de México's policy statement first for the rate stance and its inflation forecasts, then the INPC with its core component for the underlying trend. The IGAE, industrial activity and retail sales cover monthly activity, quarterly GDP gives the wider picture, and the ENOE and remittances add labor and household income context.

Frequently Asked Questions

What are the main Mexico economic indicators?

The main Mexico economic indicators are the INPC consumer price index, GDP, the IGAE activity indicator, industrial production, retail sales, the ENOE unemployment rate and the trade balance from INEGI, plus the Banco de México policy rate and remittances.

How often is Mexico's inflation published?

INEGI publishes the INPC twice a month: a fortnightly bulletin for the first half of the month and a monthly bulletin that includes the second fortnight. Each reports the period change, the annual change and the core and non-core components.

What is Banco de México's inflation target?

Banco de México's permanent target is 3% annual inflation measured by the INPC, with a variability interval of plus or minus one percentage point around it, as set out in its Monetary Policy Program.

References

Swoopr Editorial Team

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