For the best understanding of the INPC, inflation is divided into two: core and non-core, however, for the purposes of this collaboration we affirm that there is a third that we will know as Mexican inflation. The underlying refers to the goods and services that are most consumed in an economy, such as tortillas, milk, cans of pickled chilies, avocado, chicken, as well as medical studies such as blood or general urine chemistry, medical consultations and medications, among others. many others are part of this segment. Added to the above is the measurement that is made separately of those goods whose price does not necessarily respond to free supply and demand, but rather to political events (gasoline subsidies to avoid loss of votes), energy policy (prioritizing production of expensive electricity), gas (war in Ukraine), fresh food (hurricanes, droughts) and, although it is not recognized, the tuition fees of private schools, which rise without any consideration, economic rationality or commercial logic simply because the director of the school you want to go on a trip to Europe in the summer. The underlying measurement is, therefore, the one that best reflects the behavior of inflation insofar as the price formation process is more stable.
For Mexico, we must consider our Mexican inflation, which consists of the sum of all those extra-market costs that accumulate and accumulate until all of us acquire them with income, without salary or with millions in the portfolio, since it is something that does not distinguish social stratum. . These costs basically refer to the insecurity that, despite the years, our governments have only increased despite being their primary responsibility. The government makes an enormous effort to keep gasoline prices reasonably stable, but how much do gas stations have to pay for the right to land? The government calls on established supply chains to be supportive and not raise the prices of bread, tortillas, milk, but how much are they sold in street vendors that reaches 60% and in the southern states 80% where things are sold in whatever unlimited. The government lowers tariffs on imports to have the product available in the country, but how much is chicken and avocado worth in the markets that openly, in light of the government, controls organized crime, which is who sets trade policy and prices. As long as the government of President López Obrador does not act to curb drug trafficking, the efforts of his Secretaries of the Treasury, Rogelio Ramírez de la O, and of Economy, Tatiana Clouthier, to contain inflation will be innocuous, so Mexicans will continue to have one of the increases largest price in Latin America. Thus, this moment of high inflation and low growth will have a greater impact due to the weakness in the fundamental bases such as insecurity and corruption, it is better for us to attend to it now to avoid continuing to be surprised.
Doctor of Economic Development and Law and Philosophy
AUCTORITAS
Professor at the Universidad Panamericana, Ibero and TEC. He has worked at the Bank of Mexico, the Ministry of Finance, the Presidency of the Republic and in Washington, DC. He is the author of books on economic history, financial regulation, monetary policy, economics, and ethics.