Government signs agreement with companies in the food sector to combat inflation

“The companies agreed not to raise the prices of corn flour used for tortillas until December 31 of this year, as well as to create special packages of basic products with a price lower than the stipulated maximum and to promote the Pacic promotion campaign.” , explained the Ministry of Economy (SE) in a statement.

“This represents 129 pesos reduction compared to the previous agreementwhich was 1,039 pesos. We appreciate this important collaboration in support of the popular economy,” Sheinbaum said on social network X, alluding to a similar agreement reached by his predecessor and political ally Andrés Manuel López Obrador.

The Mexican Government will strengthen the national production of grains in which the country has a deficit, and committed to maintaining fuel prices, established since 2018, as well as the cost of highway rates concessioned to Fonadin and Capufe for six months .

In addition, the “corn-nixtamal-tortilla” value chains will be reviewed, as well as other basic consumer products for Mexican families.

“The products that will be part of the PACIC basic basket, with specific characteristics and presentations, are, among others: pasteurized whole milk, white egg, whole chicken, toilet paper, boxed bread, pasta soup -spaghetti and elbow-, canned tuna, canned sardines, vegetable oil, rice, pulp beef steak, marketed flours and basic corn flour,” the SE detailed in the statement.

The self-service stores that signed the Package are: Walmart, Chedraui, Soriana, La Comer, Merza, Calimax and Aprecio, HEB, Smart, Casa Ley, SuperKompras and Super AKI.

The participating agribusinesses are: GrupoMar, Minsa, Lala, Bimbo, SuKarne, Kimberly Clark, Pilgrims, Schettino, Pinsa, Maseca, Verde Valle, Ragasa, Alpura, San Juan, Bachoco, La Moderna, Sigma, Opormex and Grupo Porres.

Food in the PACIC basic basket rises above inflation

Of the 24 products on the basic basket list that is included in the PACIC, 17 rose in price above inflation average that was recorded between May 2022, when this program was launched, to September of this year.

Orange was the product that reported the highest price increase, with 84.6%; almost seven times more than the average inflation in the country. They were followed by carrot, lemon and white potato, with increases of more than 40%, according to Inegi figures.

In May 2022, the then president Andrés Manuel López Obrador launched the PACIC, agreed with producers, distributors and merchants on measures to reduce the prices of basic basket products in addition to opening quotas for imports with zero tariffs on foods such as flour. corn, wheat flour, white corn, sorghum and beans.

With information from Reuters, Dainzú Patiño and José Avila