The mexican families they are moderate with respect to the economic expectations of the country and their households. The persistent increase in prices remains one of the main concerns.
During November 2021, consumers slightly increased their confidence that their household economy is better than the previous year. They also increased their confidence that the national economy improved and that next year will be better.
The only component that persists with significantly low levels is the one that evaluates the current possibilities of households to perform purchases of household appliances, furniture and electronic equipment, standing at 23.8 points, out of a threshold of 50.
Figures from the Extended National Survey on Consumer Confidence, Inegi’s experimental project, also show that there are significant differences at the regional and socioeconomic levels.
Households located on the northern border of Mexico have higher levels of confidence in the economy than households in the center of the country. For their part, in line with their purchasing power and consumption capacity, the richest households have better projections than the poorest.
Since the second half of 2021, an accelerated trajectory of increase in the price level began. At the end of that year, inflation reached its highest levels in more than 10 years and food and energy products have been among the products that have become more expensive in Mexico.
The basic basketIn fact, it became 8% more expensive at the end of 2021 compared to December of the previous year. Disproportionately affecting households that make up the lowest socioeconomic strata.
In line with this situation, households are also more pessimistic regarding this item. Although their perception of the employment situation in the country improved, their expectations about inflation are lower.
In just one month, from October to November 2021, confidence that the level of consumer prices will improve fell 0.8 points, reaching a level of 18.2 points, far from the threshold of 50.
The expectations of consumers on inflation are directly related to their purchase projections: the more expensive things are, the less they can afford. Especially with long-term consumer products like homes, cars, and household items. Mexican households showed less confidence in being able to make purchases like these, compared to their capacity a year ago.
Although the inflationary phenomenon is globalized and is expected to subside during 2022, Mexicans remain alert.