Plan Against Inflation/Russian-Ukrainian Conflict

National Plan Against Inflation. President López Obrador presented a plan to combat price inflation on basic food products such as milk, rice and bread. He said the plan does not aim to control prices but to sell those products at a fair price. Moreover, he thanked producers, businessmen and merchants who are voluntarily participating in the plan.

Companies like Bimbo, Telmex and Telcel presented some measures they will apply in order to counter inflation. For instance, Bimbo will not increase the price of bread for six months, and Telmex and Telcel will maintain the same rates for internet and telephone service for the rest of the year.

As part of the plan is the reduction to 0 tariffs on rice, corn, beans and milk. Rogelio Ramírez de la O, Minister of Finance and Public Credit, specified that the measure has showed effect on the price of rice which has already decreased 3 percent. In addition, the goal of the plan is also to deliver fertilizers to farmers that grow basic grains with the objective of increasing the offer to 2 million tones adding to the production of “Plating Life” program that will contribute with 800,000 additional tones.

Mexico´s inflation rate increased in the first two weeks of April 7.72 percent, its highest level in 21 years, according to data from the National Institute of Statistics and Geography (INEGI).

Mexico will maintain a neutral stance in the Russian-Ukrainian Conflict. López Obrador assured that Mexico will not impose sanctions to Russia due to the Russia-Ukraine war even if there is a 0Third World War risk. The president said Mexico will respect article 89 of the Constitution where the principles of no intervention, self-determination of the people and peaceful resolution of controversies are established. Moreover, he confirmed that in his recent phone call with President Biden the issue about the conflict was not addressed. The president said they mainly talked about development programs for Central America.