The conflict between the US and Venezuela could directly impact steel costs and, consequently, construction costs in Mexico, according to a leader of the Mexican Chamber of the Construction Industry (CMIC by its Spanish abbreviation).

The leader noted that this international scenario adds to the usual price increases at the beginning of the year. Some construction materials are already registering increases of around 15%, while steel could become even more expensive due to the geopolitical situation and its connection to mining activity.

In addition to construction costs, it is expected that the labor costs will rise approximately 15%, further complicating the outlook for Mexico's construction sector in 2026.