“Historically” US inflation is lower than Mexico’s: AMLO

President Andrés Manuel López Obrador dismissed the fact that inflation in Mexico is higher than that of the United States (EU), assured that “historically” it has been so; however, he commented that the government is working to reduce the Mexican inflation rate.

During the morning conference of the Chief Executive, he was questioned about the behavior of the National Consumer Price Index (INPC) compared to the US index; The president mentioned that in Mexico measures are being implemented that are working.

“At least in the last 10 years, US inflation was lower than Mexico’s,” he said.

He added that in recent times US inflation has accelerated above the national record and commented that in the following years “it is likely” that Mexico’s CPI will slightly exceed the US index.

However, he pointed out that this remains to be seen, because the federal government will continue to formulate actions to stop it.

The INPC in Mexico reached a level of 8.6% per year during the first half of August 2022, according to data from the National Institute of Statistics and Geography; while in the United States inflation fell to 8.5% in July from 9.1% in June.

López Obrador also pointed out that the social programs implemented during his administration are helping to combat inflation, since they seek to increase the purchasing power of those who have the least.

He highlighted the inflow of remittances, considering that they have helped families withstand high inflation. “All this has improved the economic situation of the poorest people in the country.”

diego.aguilar@eleconomista.mx