Despite the fact that in January 2026 inflation stood at 3.79% at an annual rate , which meant an increase of 0.38% compared to December 2025, Mexicans opened their wallets in the first month of the year, defying the January slump.
According to the Timely Indicator of Private Consumption (IOCP), the acquisition of goods and services in the country would have increased 4.7% year-on-year in January , according to figures from the National Institute of Statistics and Geography (Inegi) .
In February 2026, this indicator would also have shown positive figures, registering an annual increase of 3.5% .
Conversely, on a monthly basis, the IOCP predicted a slowdown of 0.6% in the first month of the year , while for February it projected an increase of 0.1 percent .
“Private spending during February was affected by disruptions to economic activity resulting from the episodes of violence and blockades recorded in the country during the month, particularly in the Bajío-West region,” the financial institution BBVA noted .
The IOCP aims to provide timely and accurate estimates of private consumption , which is one of the country’s economic drivers, according to Inegi.
Measuring this economic indicator is key in Mexico, as it represents around 70% of the country’s Gross Domestic Product (GDP) , and it also helps to understand the population’s economic capacity to acquire goods and services.
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