The survey of private sector economics specialists also lowered expectations for Mexico's GDP growth in 2025 from 1.78 percent to 1.61 percent.
Mexico's economy, the second largest in Latin America after Brazil, grew by 3.2 percent in 2023, according to the most recent official data.
Regarding domestic inflation, the survey expects inflation to speed up, forecasting a 4.58 percent increase in the National Consumer Price Index (CPI) in 2024, up from the 4.23 percent forecast in last month's survey.
Inflation came in at 4.66 percent in 2023, above Banxico's 3.0 percent target rate.
On the Mexican peso, the economists expect the currency to trade at 18.78 to the U.S. dollar by the end of the year, against the 18.73 pesos to the dollar estimated last month.
The Mexican peso entered a period of volatility against the dollar following the June 2 presidential elections, which saw ruling party candidate Claudia Sheinbaum win by an overwhelming majority.
The monthly survey is conducted by the Bank of Mexico among economic analysis and consulting groups from the national and foreign private sector.
Latest comments