Thus, the indicator fell for the second consecutive month and stood at 43.42 points, its lowest level since August 2021, affected by Ómicron, according to Gabriela Siller, an economist at Grupo Financiero BASE.
Within the indicator, monthly decreases were observed with data adjusted for seasonality in the five components that comprise it. Although, compared to January 2021, the confidence index advanced 4.4 points.
In January, Mexicans were less confident about the country’s current economic situation, compared to 12 months ago. This component fell 1.8 points, compared to December, reporting 38.4 points.
The perspectives regarding the present and future family economy also fell within the index. For example, Mexicans find that they are less likely to buy furniture, televisions, or appliances than they were a year earlier. Well, this component fell 1.3 points compared to December.
Consumer Confidence in Mexico fell to 43.42 points in January, its lowest level since August 2021, affected by Ómicron.
It is the second month in a row with falls, both in the indicator and in the 5 components that make it up, something that has not been seen since March and April 2019.
– Gabriela Siller Pagaza (@GabySillerP)
February 3, 2022
More inflation, less savings
Within the complementary components of the trust index, Mexicans reported less possibilities of saving part of their income; partly due to inflation.
Well, compared to the previous year, Mexicans reduced their confidence regarding the behavior of prices in the next 12 months, by 1.4 points.