Consumer confidence stagnated in April, reports Inegi

Mexico City. The deterioration of the perception of the expected economic situation for households and for the country, as well as the fear of price increases, stagnated the level of confidence of Mexican consumers, which will be reflected in their pockets, revealed data from the National Institute of Statistics and Geography (Inegi).

Mexican sentiment, measured through the Consumer Confidence Indicator (Icc), stood at 47.3 points in April, which represented the same level as that reported the previous month. Even so, it remains at levels not seen since February 2019.

The confidence of Mexican consumers stagnated in April, due to the monthly fall of two of the five main components, one remained without movement and two increased.

The one referring to the expected economic situation of the country, which fell 0.2 points, the third consecutive downward reading; while the expected economic situation of household members within 12 months compared to the current situation fell 0.9 points. For its part, the current economic situation of household members compared to what they had 12 months ago remained unchanged compared to March.

The current possibility of household members to make purchases of durable goods rose 0.9 units, after a decrease of 1.0 points in March compared to February.

The rise in inflation during the first months of the year, mainly due to agricultural products and services, such as restaurants, taquerias or tourism, moderated consumer sentiment.

According to complementary indicators, Mexican households are distrustful of the inflation situation in the next 12 months.

Thus, the data provided by the National Survey on Consumer Confidence in 2,336 urban homes nationwide, prepared jointly by Inegi and the Bank of Mexico (BdeM), reflected that in the fourth month of the year, consumer confidence Consumer spending in Mexico slowed down, although it remains at high levels, increasing 3.1 points compared to April 2023.

The current possibility for household members to make purchases of furniture, television, washing machine, other household appliances, etc., presented an annual increase of 5.4 units.

For its part, the current economic situation advanced 3.83 points in April, compared to the same month of 2023 and expected from household members (1.6 units).