La Jornada: IP and government renew the anti-inflation package

The federal government and the private initiative renewed for six more months the Package against Inflation and Scarcity (Pacic) that places 24 basic consumer products at a maximum price of 910 pesos in order to contain inflation and protect the purchasing power of the most vulnerable population.

Without this agreement, “inflation would probably be at 10, 12 percent, and there is nothing that does more damage to the economy, and particularly to lower-income families, than inflation, because it means acquiring less and affecting family life,” said President Claudia Sheinbaum Pardo when signing the agreement with 32 companies, suppliers and self-service stores.

He recalled that, unlike Mexico, “many countries are experiencing very high inflation due to the increase in the price of fuel and oil, derived from the war in Iran and the closure of the Strait of Hormuz.

“We decided not to sit back and work.” This also includes keeping the liter of Magna gasoline at less than 24 pesos and that of diesel at 27.

In the Central Courtyard of the National Palace, the Secretary of the Treasury, Édgar Amador Zamora, highlighted that the renewal of Pacic takes place in a “complex” international environment, marked by inflationary pressures, volatility in the prices of energy foods and the associated supply chains. But “Mexico has shown that coordination between the government and the private sector can give concrete results in favor of our population… there is peace of mind for our families, certainty for mothers and fathers, direct support for those who most resent any increase in the prices of basic foods.”

The renewal of this agreement, he indicated, is “a positive signal that gives confidence and certainty to the entire country. Mexico is a responsible economy with solid public finances and the capacity to build solutions through dialogue between the public and private sectors.” He highlighted the support of producers and marketers to reduce upward pressures on perishable products, and even commented that they have received calls from countries, such as Brazil, requesting a meeting to learn details of the content, scope and recommendations to implement the same initiative.

On instructions from the head of the federal Executive, they began, he said, the review of a greater number of merchandise to, within the framework of Pacic, ensure the stability of more prices. The president of the Business Coordinating Council, José Medina Mora Icaza, recalled that “in 2022, inflation reached almost 9 percent, and thanks to Pacic it managed to drop to 4.5 percent, it will be a greater challenge now to lower it to 3, but I am convinced that these work tables allow us to understand what is the problem that is stopping some of the products from going down. We are going to move Mexico forward, we are going to achieve the reactivation of investment and a fundamental part is to turn to see those who have less,” he pointed out.