US Inflation Making Dent on Remittances to Mexico

• The amount of cash Mexico received last year from its citizens abroad reached another record. At $64.7 billion, remittances remained one of that country’s primary sources of income in 2024 and just under 4% of its gross domestic product.
• However, trouble may be brewing in a horizon clouded by threats of U.S. tariffs, inflation and law enforcement pressure on Mexican immigrants, and new rules to scrutinize who wires what money to whom outside of the United States.
• Remittances fell for a second consecutive month in February, according to Banxico – Mexico’s central bank. They went to from $5.2 billion in December, to $4.66 billion in January and $4.45 billion in February. The average remittance also is down from $393 last year to $383 in the first two months of 2025.

(Source: News Nation Now)