Mexico: The Unit for Measure and Update (UMA) increases to Mx $80.60 Mexican pesos daily effective February 1, 2018.

On January 10, 2018, the National Institute for Statistics and Geography (INEGI) published in the Official Gazette the new value of the Unit for Measure and Update (UMA).

Considering the proceeding established in Section 4 of the Law to Determine UMA’s value, the following method was followed to update UMA’s value: (i) the daily value was determined multiplying UMA’s value for the previous year times the result of adding a unity to the interannual variation of the National Consumer Price Index for December of the previous year; (ii) the monthly value is the result of multiplying UMAs daily value times 30.4; and (iii) the annual value was obtained by multiplying UMA’s monthly value times 12.

Based on the foregoing, UMA’s value for 2018 will be Mx $80.60 pesos daily; Mx $2,450.24 monthly and Mx $29,402.88 pesos annuall effective February 1, 2018.