Be patient with inflation
about inflation and the data that was published this Tuesday Yañez said that he hopes that the prices of the products may begin to fall until the ports from China are decongested, which will take months. “You have to be patient, it’s not a matter of weeks, it’s going to be a matter of months.”
“We will have to watch for energy to drop, logistics issues to be resolved, and a good sign will be when the ports are decongested and flow begins, but that will take a while,” he added.
When questioned about the impact that the increase in the interest rate by the Bank of Mexico (Banxico) will have on consumption within department stores, Yañez said that he trusts the progress of stores in electronic commerce.
However, he acknowledged that the progress has not been enough, in part, because it is necessary to bankarize the Mexican population.
Although the stores see a problem in the possible shortage of electronic products, Yañez believes that the problem could be an opportunity for Mexico to attract investment.
“Mexico can attract a lot of investment. With the pandemic, the weakness of the supply chains was seen and Mexico, being located in North America, presents an enormous opportunity for these types of products to be manufactured in Mexico,” Yañez said in the framework of the 31 AMIS Insurers Convention.