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/Sounds like the English word "no" (same pronunciation) + "EYE" (as in "eye") + "PEH" (as in "pet") + "doh" (as in "door")/

Meaning

No problem, it's all good, don't worry about it. It's the universal Mexican response to brush something off and say everything's chill.

Examples

Sorry for being late?,No hay pedo, all good.

The glass broke but no hay pedo, I have more.

Regional synonyms

Something extremely expensive or difficult to achieve, when the price or effort is so absurdly high it makes you question all your life decisions. The expression for a cost that hurts your soul.