| | |  Business News | July 2008 
Mexico Consumer Confidence Index Falls to 6-Year Low
 Jens Erik Gould - Bloomberg
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| | Mexico's consumer confidence fell more than economists estimated in June to the lowest level since January 2002. (Reuters/Mario Anzuoni) | | |
Mexico's consumer confidence fell more than economists estimated in June to the lowest level since January 2002 as inflation accelerated to a three-year high.
The index decreased to 90.7 from 94.2 in May, the national statistics agency said today on its Web site. Economists had estimated confidence would fall to 92.0, according to the median of 13 forecasts compiled by Bloomberg.
The consumer sentiment index reflects Mexicans' perception of the economy, their financial situation and whether they consider it a good time to spend on durable goods.
"Higher inflation is already affecting the perception of disposable income," Diego Donadio, economist at BNP Paribas in Brazil, said in an e-mailed comment.
Mexico's central bank reported last month that consumer prices rose 0.29 percent in the first half of June, almost double the median of analysts' estimates. Annual inflation accelerated to 5.28 percent, the highest since December 2004.
To contact the reporter on this story: Jens Erik Gould in Mexico City at jgould9(at)bloomberg.net. |
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