Page 13 - 00 Encuesta de Salarios y Beneficios/Wage and Benefits Survey Abril 2024

Content / Economics Expectations

Economic expectations Feb 2024

Inflation, GDP, and Exchange rate

These are the Feb 2024 survey results regarding expectations issued
by private sector economy specialists in the Banco de Mexico, which
are:
Chart 1. Experts’ expectations on the main economic indicators

Mean Median

Survey Survey
January January
February February
General Inflation (Dec. - Dec)
Expectation 2024 4.13 4.14 4.17 4.10
Expectation 2025 3.73 3.70 3.71 3.70

Underlying Inflation (Dec. - Dec.)
Expectation 2024 4.06 4.08 4.06 4.06
Expectation 2025 3.67 3.66 3.72 3.69

GDP Growth (Annual %)
Expectation 2024 2.37 2.39 2.40 2.40
Expectation 2025 2.01 1.94 1.94 1.80

Exchange rate Peso/Dollar (Year End)
Expectation 2024 18.38 18.33 18.50 18.31 Souce: Banco de
Expectation 2025 19.04 18.99 19.10 19.00 Mexico report
Feb. 2024
Interbank Funding Rate (End Fourth Quarter)
Expectation 2024 9.36 9.40 9.25 9.50
Expectation 2025 7.52 7.47 7.50 7.50

Worth pointing out from the February 2024 survey: • The general inflation and
underlying expectations for the 2024 and 2025 closings continued at similar levels to
those in the January survey, while the median in the general inflation forecasts for
the 2024 closing decreased.

• The real GDP growth expectations for 2024 remained at close levels to the previous
month, while for 2024 there was a downtrend. • Expectations for the peso vs US dollar
exchange rate for the 2024 and 2025 closings decreased according to the previous
survey.