Macro Analysis /
Global

Mexico: Minimum wage – 22% increase in 2022

  • CONASAMI announced a 22% rise in the minimum wage for 2022, from $141.70 to $172.87 per day, higher vs. previous years

  • This follows government policy of aiming for a gradual recovery in wages, while also incorporating higher inflation

  • We think that the effect from the hike on CPI might be modest, although it inserts some upward risks to our forecast

Alejandro Padilla Santana
Alejandro Padilla Santana

Executive Director of Economic Research and Financial Markets Strategy

Contributors
Francisco Jose Flores Serrano
Juan Carlos Alderete Macal
Banorte
2 December 2021
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