AMLO signs anti-inflationary plan for 24 basic products;  these are the 10 points

President Andres Manuel Lopez Obrador presented its plan to contain inflation, which gives tools to companies and food distributors to facilitate the importation of products from the basic basket.

The objective of the plan is that there are no increases in gasoline, electricity and basic food prices.

Gasoline does not increase, electricity does not increase and the price of basic foodstuffs does not increase, that is the essence of everything“, Said the president after presenting the plan.

Secretary of the Treasury, Rogelio Ramirez de la O, He indicated that as part of the plan, fuel subsidies will be maintained and tariffs will be eliminated.

These are the most relevant points of the anti-inflation plan of the government:

  1. The federal government will grant a single universal license that exempts all procedures or permits for the importation of food.
  2. Tariffs on food imports from the basic basket will be eliminated.
  3. The fuel price containment policy will continue.
  4. Government-run highway tolls will be frozen until February 28, 2023.
  5. Grain production in Mexico will be strengthened.
  6. Exports of white corn, beans, sardines, and aluminum and steel scrap used in food packaging will be cancelled.
  7. A basic basket of 24 products is set at $1,039 pesos.
  8. Corn flour producing companies agree not to raise prices and, on the contrary, a decrease of 3% less than the current price will be sought.
  9. Participating companies agree to accept verifications from Profeco.
  10. The plan will enter into force when the decree is published in the Official Gazette of the Federation.
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The companies participating in the agreement They are Tuny Atún, Grupo Pinsa Dolores, Grupo Gruma-Maseca, Minsa, Bachoco, San Juan Huevo, SuKarne, Opormex, Sigma Alimentos, Walmart, Soriana, Chedraui and Valle Verde.

President Lopez Obrador recognized the entrepreneurs for their commitment and stated that the agreement was made without pressure, so it is open to more companies joining.

López Obrador recalled that inflation skyrocketed due to the war in Ukraine, making it a global phenomenon that affects several countries and in the case of Mexico it is reported mainly in food.

“There is no imposition, there is no coercive measure, it was from convincing and persuading and by your will, to help. This will have a very positive effect. It will help us from now on to control inflation”, she said.

In the first fortnight of September 2022the National consumer price index increased 0.41% compared to the previous fortnight.

With this result, the annual headline inflation stood at 8.76%reported the National Institute of Statistics and Geography.

Meanwhile, the underlying price index grew 0.44% at a fortnightly rate, while annual, 8.27%. In the same period, the non-core price index rose 0.32% biweekly and 10.22% annually.

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