Private consumption in Mexico stopped growing on a monthly basis in July 2026, a sign of less dynamism in one of the components that sustain economic activity and that, at the same time, determines a large part of the flow of goods to households.

The Monthly Indicator of Private Consumption (IMCP), which tracks household spending on goods and services, both domestic and imported, showed no change in July 2026, while year-on-year it registered a 1.1 percent increase . The index stood at 113.2 points, according to the National Institute of Statistics and Geography (Inegi) .

The result represents a pause after consumption had shown progress for some months of the year.

The composition of the July data also shows where spending shifted. While consumption of domestically produced goods and services decreased by 0.1% month-on-month , spending on imported goods increased by 1.4%.

In annual terms, there was an increase of 1% in domestic goods and services and 1.6% in imported goods and services.

For the logistics sector, the annual growth in consumption continues to generate demand for transport, storage and distribution , with a composition that favors imported goods.

The reading is relevant because private consumption represents the most significant component of Gross Domestic Product (GDP) from the demand side.

Factors that accompany this behavior include variables such as employment, household income, consumer confidence, and remittances.

The following data will be relevant to confirm whether the stagnation in July at a monthly rate represents a temporary pause or the beginning of a stage of less dynamism.

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