On January 10, 2017, the National Institute of Statistics and Geography (INEGI) announced the new value of the Unit of Measure and Update (UMA) that will rule from February 1, 2017 to January 31, 2018: the daily value will be $75.49 pesos, $2,249.90 pesos monthly, and $27,538.80 pesos annually.
INEGI’s determination results from the constitutional reforms on de-indexation of the minimum wage, which entered into force on January 28, 2016, and pursuant to which said wage ceased to be the unit of account, index, base, measure or reference to determine the amount of the obligations and hypothesis established in federal and local laws, as well as any other legal provisions arising therefrom. Such is the case of Title Sixteen of the Federal Labor Law, which takes the general minimum wage as the basis for calculation of fines deriving from violations to labor standards.
The Federal Congress, the local Congresses, the Legislative Assembly of Mexico City, as well as the Federal, State and Municipal Public Administrations must perform the corresponding adjustments to laws and ordinances within their competence for the effect of eliminating references to the minimum wage no later than January 28.