Inflation in Mexico and around the world has shown a trend that goes beyond inertia. Aspects once considered temporary have lasted longer than estimated, and this phenomenon will continue to be one of Mexico’s problems to solve in 2023.
To reduce inflation, a program has been developed to keep prices stable. Trade Minister Matías Tombolini announced that the future “Fair Prices” program will include between 1,500 and 2,000 products whose price will be printed on the packaging. According to the Minister of Economy Sergio Massa of this Sunday, the program will require companies to indicate the final price on the product packaging to avoid an unjustified increase in value and to try to “create predictability on the shelf.”
The initiative will target the “20 or 30 large price-setting companies that account for 65% of mass consumption,” and the government expects it to begin in November and “last 90 to 120 days.”
As Tombolini explained in an interview with Radio 10, the Fair Prices program will be implemented gradually. “There are products with high rotation where it will be easier to move forward with the price in the package, while those with lower rotation in supermarkets may have an arrival in a later week,” said the trade minister.
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