The mexican economy already has one inflation lower than that of the Eurozoneafter 22 years of being above, before the anti-inflation policy on the basic basket and the fuels of the Mexican Government, said Monday the head of the Federal Consumer Attorney’s Office (Prophecy)Ricardo Sheffield.
The Eurozone (has) 10.6% inflation, but if you see that red line, it has normally been below Mexico and now inflation is above our country,”
Sheffield commented when exposing a graph at the government’s daily press conference, this time in the southern state of Campeche.
“The subject of inflation has been very controlled for decades”
Accompanying the Mexican president, Andrés Manuel López Obrador, the official maintained that inflation in Mexico, which reached an annual rate of 8.4% in October, has remained “under control” compared to world powers such as the United States or Japan, which had “The subject of inflation has been very controlled for decades.”
The president first promoted a “Package against inflation and famine” (pacic) last May, which included more than 300,000 million pesos (about 15,000 million dollars) in fuel tax subsidies.
And then he promoted an “Opening Agreement against inflation and high prices” in October so that businessmen would commit not to raise basic products.
The Administration of President Andrés Manuel López Obrador has known how to control the variables to keep this world inflation under control”,
defended Sheffield.
inflation comparison
The official said that the difference between the current general inflation in the United States (7.8%) and that of Mexico (8.4%) has been reduced.
It also compared the indicators that have the highest incidence of inflation, such as transportation, housing expenses, and food and beverages.
According to Sheffield, in Mexico transport prices only show a rise of 7.9%, compared to 10% in the Eurozone and 11.2% in the United States, while in Japan it is only 0.3%.
The Mexican attorney argued that this is the result of “very effective transportation, maximum price systems in liquefied petroleum gas (LP) and tax incentives for fuels, a public investment that has given an important result for the country”.
In the case of housing expenses such as gas and electricity, among other fuels for the home, the head of Profeco explained that Mexico presents an increase of 1.4%, a “very low level similar to that of Japan”, of 1.1%
Meanwhile, he indicated that the increases in housing prices in the Eurozone rise up to 23.2% and 7.9% in the United States.
In food and non-alcoholic beverages, Sheffield said that Mexico has inflation of 14.1%, below the 15.5% in the Eurozone, although above 10.6% in the US and 6.3% in Japan.
Sheffield insisted that the slowdown in the rise in food prices in Mexico has been the result of the agreement with distributors and producers of the agri-food industry in the country since last May.
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