The News
The News
Sunday 22 of May 2022

Canaco Leader Responds to Price Increases


LP gas prices rose $2 pesos ($0.09) in January,photo: Cuartoscuro/ Isaac Esquivel
LP gas prices rose $2 pesos ($0.09) in January,photo: Cuartoscuro/ Isaac Esquivel
The head of Canaco said that the private initiative will continue to assimilate part of the impact from the current global economic situations

Humberto Lozano Avilés, president of the Chamber of Commerce, Services and Tourism (Canaco), announced that prices of certain products increased from 3 to 10 percent as opposed to the 1 per cent increase forecasted by Economy Secretary Idefonso Guajardo Villareal. Lozano stated that Guajardo’s calculations are out of touch with the affected sectors.

The head of Canaco said that the private initiative will continue to assimilate part of the impact from the current global economic situations, however, a 20 per cent increase in the price of petrol has a greater impact on utilities that goes beyond profit margins.

As a signee of the Agreement for Economic Strengthening and Protection of Household Economy, Lozano Avilés noted that despite negative comments the Agreement has remarkable provisions such as granting funds for bolstering Micro and Small-Sized Enterprises as well as entrepreneurs.

“We want to make it abundantly clear that the Private Initiative did not cause the increase in petrol prices, and it is not us who increased commodity prices out of our accord; it is the current economic situation that causes the hikes, as the Secretaries of Finance and Economy have explained,” said Lozano.