Mexico’s IPC index rises 2.14%, the most since June
Mexico’s S&P/BMV IPC stock index rose 2.14% on Friday to 65,729.18 points. This was its largest one-day increase since June 11. The FTSE BIVA index, the benchmark of another Mexican exchange, added 2.17%, The Rio Times reports.
Three days earlier, the IPC had fallen to its 2026 low of 63,933.69 points. Among the companies whose shares rose during trading, the publication names Grupo México, GCC, Pinfra and Cemex. At the same time, Walmex shares declined, while consumer-sector companies generally lagged behind. Mexico’s retail sales fell by 0.2% month-on-month in June.
Diesel tax relief
Mexico’s Ministry of Finance set a tax incentive equal to 82.59% of the IEPS excise tax on diesel fuel for the period from August 22 to 28. It amounts to 6.0813 pesos per liter, so drivers will pay 1.2821 pesos in tax per liter. This is the highest level of such relief for diesel since the beginning of 2026.
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For regular gasoline, the incentive is 22.44%, and for premium gasoline, 4.03%. According to the publication, rising Brent and WTI oil prices were linked to sanctions against Iran and disruptions around the Strait of Hormuz. Since Mexico’s fuel excise tax is set as a fixed amount in pesos per liter, the state can partially exempt it through weekly tax relief.
Spending and agricultural sector financing
Mexico’s Ministry of Finance report for the second quarter states that net public spending in the first half of the year amounted to 4.856 trillion pesos, 499 billion pesos less than envisaged by the program. Budget item Ramo 21, through which federal transfers are made to state oil company Pemex, was cut by 61.7% from the approved plan for the first half of the year. Pemex transfers were reduced by 164 billion pesos, while the company’s own spending undershoot amounted to 45.297 billion pesos.
The state trust FONDO, which is part of the FIRA system managed by the Bank of Mexico, also placed long-term certificates worth 4.5 billion pesos on the Mexican exchange. The issue consisted of three tranches, including social bonds worth 928.25 million pesos with an 8.84% rate.
