Mexican President defends his policies to tackle with Inflation

Mexican President, Andres Manuel López Obrador, argued that inflation in Mexico is higher than United States and Brazil due to Mexico importing food. He also stated that “the goal of stabilizing prices was reached” with the efforts done by his team including his “Package against Inflation and Shortages” and an “Opening Agreement” against inflation.

Lopez Obrador addressed that Mexico has less inflation in energy as it is directly intervened by government, resulting in fuel prices not increasing. Despite of high inflation, he refused to take any further action apart from what they have already done and is expecting that this inflation rate will drop in the next data released by National Institute of Statics and Geography.

Mexico registered an annual rate of 7.94% in first half of January which was higher than the rate of 7.82% last December and is highest rate for a start of the year since 2001. This is in contrast to the decrease in general inflation of previous months resulting in the biggest annual close in 22 years.