Image credits: Image by ImageParty from Pixabay
/
Weekly Roundups

Mexico’s Anti-Inflationary Plan Ignores Menstrual Health

By Emilio Aristegui | Wed, 05/11/2022 - 12:18

Mexico’s newest anti-inflationary plan seeks to control rising prices. However, the plan has been criticized for ignoring menstrual health.

Ready? This is the Week in Finance!

Anti-Inflationary Plan Seeks Stability

Mexico’s inflation has been affecting basic products, with rising prices in milk, rice and bread. President López Obrador warned that Mexico’s plan will not control those prices but rather sell those items at a “fair price.” However, small producers and vendors have been critical of the policy, stating that it will not be capable of generating a real impact on inflation.

“We must act, not stand idly by because inflation, as we all know, greatly affects the economy, and affects people with limited economic resources more. It is a tax and we must avoid a high cost of living; that is the most precise term. We all want inflation to be controlled,” said López Obrador during the presentation of the anti-inflationary plan.

Anti-Inflationary Plan Disregards Menstrual Products

Deputy Martha Tagle insists that to end period poverty, the government must include taxation-free menstrual products on its newest anti-inflationary plan. Tampons and pads have faced rising prices since the beginning of this year, as Palmira Camargo, Vice President of Communication, Essity Latin America, explains that the company arranged for its products to be tax-free as of Jan. 1, 2022. However, due to rising inflation, the products faced an increase in price.

Mercado Libre Reports Outstanding Growth

“We kicked off 2022 with a strong first quarter across all businesses, following a record year in 2021. Mercado Libre is coming out of the pandemic stronger than we were two years ago, with a more mature business at scale, a larger team with complementary capabilities and much better services and experiences for our users in all of our key geographies,” the company said in a statement. Mercado Libre reported a US$65 million net income in 1Q22, following losses in 1Q21 and a profit of US$1.30 on a per-share basis.

Best Quarter in Tax Collection History: SAT

Mexico’s Tax Administration Service (SAT) reported that throughout 1Q22, tax collection saw its best quarter ever with MX$46.33 billion (US$2.32 billion) charged to taxpayers, an increase of 63.8 percent in comparison to 1Q21. “Although voluntary compliance is preferred over inspections, additional efforts have not been relaxed. Between January and March 2022, 270 large taxpayers were audited,” reported SAT.

Bitcoin Records Lowest Price Since July 2021

The cryptocurrency tumbled below US$30,000 for the first time since July 2021, as interest rates increase and markets move away from risky assets. The token has fallen more than 50 percent from its November 2021 price, as similar digital assets continue to register important decreases in price.

The data used in this article was sourced from:  
MB
Emilio Aristegui Emilio Aristegui Junior Journalist and Industry Analyst