2024-08-07 05:37:22
Income from remittances reached a level of 6 thousand 213 million dollars in June 2024, marking a historical record. This represented a monthly increase of 10.5% and an annual increase of 11.3%.
The accumulated flow of remittance income in the first six months of the year was 31 thousand 343 million Dollarsan amount greater than the 30 thousand 239 million dollars registered in the same period of 2023, to reach the historical maximum for comparable periods.
When converting remittances from dollars to pesos, and adjusting them for inflation, a growth of 12% was observed in June 2024, which represents an increase in purchasing power, favoring the household income and private consumption, according to an analysis by Valmex.
Victor Ceja, chief economist at the brokerage firm, explained that this breaks the accumulated streak 19 consecutive months of declining purchasing power.
“This increase is mainly explained by the depreciation of the peso during the month of June, compared to the previous month.”
Looking ahead, he projected that the dynamism of remittances could be maintained, even though the labor market in the U.S. has shown signs of moderation and the unemployment rate among Latinos has decreased.
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2024-08-07 05:37:22