Vicente Fox blamed AMLO for rising prices: “It has only made things worse”

The former president of Mexico, Vicente Fox Quesada, questioned the economic decisions that have been made in the administration of President Andrés Manuel López Obrador (AMLO).

And it is that in recent days an increase in the prices of the basic basket was announced in the country, so the former president blamed the Tabasqueño and assured him that since he took office “things have gotten worse” in the country.

He also pointed out that the measures proposed by the federal government will have an impact on the social sphere, so he urged López Obrador to act before his time runs out.

“Increases in food have a high social cost and affect expectations: Minuta Banxico. To enlighten us, take drastic measures in this regard! Tell Lopez that time is running out and things have only gotten worse!” , he wrote this Thursday, April 7.

The former president's message appeared three days after a possible cap on the prices of basic basket products will be announced in order to control inflation.

And it is that at the morning conference on April 4, the head of the Federal Executive reported that his entire team is working on a plan to contain prices and thus help Mexican citizens.

He indicated that as with other products - such as gas, gasoline, to name a few - there is a possibility of a maximum price cap.

“If necessary, first, production, but if we see that the margins... what happens with gasoline, you realize (...) to give an example, in the case of gas it went up and it was defined to set maximum prices and that helped us to control,” he said.

Meanwhile, this Thursday the National Institute of Statistics and Geography (Inegi) announced that the inflation rate in the country rose to 7.45%, the highest level ever recorded in 2001 -when Fox ruled-.

According to the institute, this increase will be reflected in the costs of energy, food and agricultural products.

“In March inflation in Mexico stood at an annual rate of 7.45%, a level not seen since January 2001, moderately exceeding expectations and confirming that inflationary pressures continue,” explained Gabriela Siller, director of economic analysis at the Base Bank.

It was also detailed that the monthly rate stood at 0.99%, being the highest record since 1998 when it stood at 1.17%.

In addition, it was added that, in the case of the basic basket, the increase will be reflected in the price of egg, avocado, onion, tomato. As well as in electricity services, package tourism services and air transport.

However, Inegi was not the only institution that prevented such economic action, as the Agricultural Markets Advisory Group (GCMA) indicated that there was a 13.1% increase in prices compared to the first month of this year.

With special emphasis on the fact that the greatest increase occurred in animal protein products, where chicken, egg, as well as beef and pork stand out.

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