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The News
Tuesday 24 of May 2022

Entrepreneurs abuse by inflation: AMLO


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Entrepreneurs abuse by inflation: AMLO. During his morning conference, he stressed that the Mexican peso has not depreciated.

President Andrés Manuel López Obrador (AMLO) reproached some businessmen for taking advantage of inflation by increasing the price of their products by up to 20%.

In the morning press conference, he stressed that the Mexican peso has not depreciated.

He indicated that this Thursday the Secretary of the Treasury, Rogelio Ramírez de la O, communicated with the president of the Business Coordinating Council (CCE), Carlos Salazar, to ask businessmen not to abuse or be advantageous.

He pointed out that the price of fuel or electricity will not increase in real terms; in the case of LP gas, the maximum prices and the distribution of Well-Being Gas are maintained.

“With the inflation that is taking place, there are those who are abusing, if inflation is 6%, 7%, they are increasing products to 15%, 20% and they have the data, the Secretary of the Treasury already spoke yesterday with the president of the Business Coordinating Council (Carlos Salazar) so that they help us by talking to companies, so that they do not abuse, that they are not advantageous, in any case that just as the ‘who is who in fuel prices ‘ we are going to make known ‘who is who in the prices of the basics’ and this will help a lot for the competition”, he assured.

The president said that the three years of his government have not depreciated the Mexican peso

“It is as we started, that is, in three years without depreciation of the peso, without devaluation, that has not been seen for a long time,” he said.

Offering apologies for his lack of modesty, supported by a graph, he detailed the behavior of the peso from President Lázaro Cárdenas to Enrique Peña Nieto.