Banxico maintained in June the reference rate at 11% arguing that inflation maintains a balance of risks that warrants continuing with prudent management of monetary policy.
The economist highlighted that the behavior of inflation in services was disproportionate to that of goods due to the pandemic. In addition, because services depend more on the cyclical conditions of the economy and internal pressures, their prices have not fallen, since there is still demand and, in fact, they may increase, this after the Mexican economy grew more than anticipated in 2023.
Warning about salary increase
Since President López Obrador came to power, adjustments to the minimum wage have been made in the order of 20% and these increases could continue under the Sheinbaum administration, although at a slower pace.
In this regard, Hetah stressed that salary increases are already beginning to put pressure on the workers.
“I think we’re already getting into the territory where it’s approaching a decent level and could start causing problems, because the difference between the minimum and the average is very small,” he said.
“An increase in the minimum wage will start to push up average wages and we have to be careful with that, because one of the main risks we are facing is a very tight labor market.”
Add Comment