Wednesday, July 9, 2025

Sheinbaum, business sector agree to lower basic food prices

President Claudia Sheinbaum and Mexico’s business sector renewed the Package Against Inflation and Expenditure (PACIC), aimed at lowering food prices for another six months on Tuesday.

“We want prices to come down for consumers, especially for those who don’t have much,” Sheinbaum said during her daily morning press conference

Tortillas on a scale
The agreement limits the cost of the canasta básica — a selection of 24 basic food products — to 910 pesos. (Tropical Sugar Fruit)

Sheinbaum was referring to Mexico’s basic food basket, or the canasta básica, a total of 24 basic foods considered basic to every household. Among these 24 foods are rice, sugar, egg, tuna, meat, carrots, tomatoes, tortillas and limes.

The group of businesses participating in the agreement — which includes representatives from 19 food production companies and 11 marketing firms, including Walmart, Kimberly Clark and Bimbo — will discuss adding additional products, according to media reports.

The agreement limits the cost of the canasta básica to a total cost of 910 pesos (US $44.23), marking a considerable 12.4% price reduction from the previous year. 

After the meeting, the newspaper El Universal reported that Francisco Cervantes Díaz, president of Mexico’s Business Coordinating Council, had said that all the participating companies agreed to continue the anti-inflation package for the next six months and that the scheme had been a “good idea” and had worked very well to date.  

PACIC I was established under the previous administration in 2022 when inflation in Mexico was the highest it had been in two decades. 

Mexico’s Agriculture Minister announced on Oct. 22, that his ministry had a plan to reduce the consumer price of corn tortillas by 10%. Between 2018 and 2024, the price of a kilo of corn tortillas rose by 65% from 14 pesos ($0.68) to over 23 pesos ($1.12). 

With reports from El Universal, El Pais and Reuters

4 COMMENTS

Have something to say? Paid Subscribers get all access to make & read comments.
Tijuana, Baja California

MND Local: Baja California and Tijuana local news

0
A hugely successful conference, roaming opera performances and a vintage year for the wine industry are all part of our news update from the northern border.
withdrawing cash

‘Our cash is in limbo’: Readers share how US sanctions on CIBanco, Intercam have affected their financial lives

12
From the survey responses we received, we got a sense of the frustration and anger of Intercam and CIBanco customers. Here's what readers are doing and saying about this uncertain situation.
guns

Heavily armed foreigner impersonating a CIA agent is arrested in México state

4
The suspect, identified by media as a U.S. citizen named “James,” was acting aggressively, wearing a bulletproof vest and tactical gear while brandishing weapons.
BETA Version - Powered by Perplexity