A store owner warns customers ahead of the upcoming alcohol sales ban.
Mexico City and some states and municipalities are set to impose a temporary dry law (known in Mexico as la ley seca) on the weekend to encourage a high turnout for Sunday’s nationwide referendum on whether President López Obrador should remain in office.
The mayor of Mexico City, Claudia Sheinbaum, said no alcohol can be sold in stores in the capital on Saturday afternoon or Sunday but that restaurants would not be affected.
Sheinbaum also called on the public to participate in the vote. “From my perspective, there is a lot of enthusiasm, so I’m calling for the participation of citizens,” she said.
Municipal authorities in León, Guanajuato, and Totolac and Tlaxcala city — the last two located in the state of Tlaxcala — confirmed that there would be a dry law in place from some time on Saturday until late on Sunday.
In the state of Nuevo León, many stores that sell alcohol have put up announcements warning clients about the dry law, and event organizers have announced postponements, despite no official announcement by state or municipal authorities.
A billboard in Aguascalientes promoting turnout for the president’s April 10 revocation of mandate vote.
The governor of Morelos said a decision on imposing the temporary dry law in the state would be made on Thursday.
Meanwhile, the governor of Coahuila and state authorities in Oaxaca said they would wait for an indication from federal authorities as to whether the alcohol sales prohibition should be enforced. State authorities in Yucatán, Chiapas and Baja California Sur were undecided on Wednesday.
In Chihuahua and Sinaloa, state authorities announced that the dry law would not apply.
A voter turnout of 40% is needed to make the result of the referendum binding. However, the president has repeatedly said that even if turnout falls short of 40%, he will still respect the results, meaning that he will leave office if more people vote for that outcome.
López Obrador has also consistently railed against the National Electoral Institute (INE) for not promoting the upcoming vote to his satisfaction and has frequently overlooked the rule of electoral silence which bans any form of campaigning in the buildup to elections or other votes.
Opposition parties have called on the public to abstain from voting. The president said in his morning news conference on Monday that he was confused by the strategy.
Social media users are already expressing displeasure with the upcoming weekend without alcohol sales in parts of Mexico.
“If they don’t want me, why don’t they vote against [me]?” he said.
The president added on Monday that participatory democracy was the model he aspired to as a leader. “A good democrat is one who wants to establish democracy as a way of life … who makes democracy a habit,” he said.
Protesters on a México state section of the capital's Ring Road blocked traffic for 15 hours, seeking justice for Hugo Carbajal's murder on Saturday. Twitter
Mexico City’s Northern Ring Road was blocked for 15 hours on Tuesday in Naucalli, México state, when some 80 protesters demanded justice for the murder of a 15-year-old boy.
Hugo Carbajal was stabbed in the neck with a glass object in an underground nightclub on Saturday night in Jilotzingo, and although state authorities say that they have identified a suspect and issued an arrest warrant, no one has been detained.
In a protest led by the victim’s parents, traffic was stopped near Naucalli park in one direction at about 9 a.m. before being extended to both sides of the ring road at about 4 p.m, affecting some 12 kilometers of road. Some motorists said on social media that they were stuck in traffic for four hours.
Demonstrators relented at around midnight after talking with the México state Attorney General José Luis Cervantes.
Videos show heavy traffic stretching back kilometers while videos of the protesters show cars blocking one side of the road and about 50 mainly young people holding banners and chanting “Justice for Hugo” and “We are all Hugo.”
‼️MANIFESTANTES PARALIZAN PERIFÉRICO EN #NAUCALPAN‼️ exigen la detención de Mauricio “N” quien presuntamente habría asesinado a un estudiante al encajarle una botella rota en el cuello. #justiciaparaHugopic.twitter.com/5mEy8O9Nti
Supporters in cars and on foot holding banners held up traffic for hours Tuesday.
Carbajal’s father, Héctor, a doctor, said his son was killed in a premeditated attack.
“He went to a party last night [Saturday night] and was murdered with malicious intent by a 38-year-old adult. He grabbed him from behind and put a blade in his neck. They had an altercation … the motive for what started the altercation is unknown,” he said.
The newspaper Reforma reported that the man accused of the murder was a security guard at the venue. A video taken in the aftermath of the attack shows Carbajal’s friends trying to save him while the attacker leaves the venue.
Carbajal’s mother, Maureen, told México state Deputy Interior Minister Ricardo de la Cruz that the protest was peaceful, Reforma reported. “We do not want to harm anyone. We just want justice for my son and then we’ll leave,” she said.
De la Cruz replied that there was an active arrest warrant for the suspect.
At left, Hugo Carbajal’s family and friends at Hugo’s funeral. At right, Carbajal with his mother Maureen Amaro Fernández in her Facebook profile picture. Maureen Amaro FB.
Governor Alfredo del Mazo was criticized on social media for not releasing a statement about the blockade or the murder after he posted a photo at 2 p.m. at an event celebrating 25 years of Fundación Azteca, the charity owned by the billionaire owner of Grupo Salinas, Ricardo Salinas Pliego.
Navy and Sea Shepherd representatives who are collaborating to rescue the vaquita marina porpoise.
A group of scientists sighted at least nine vaquita marina porpoises in the upper Gulf of California in late 2021, leading the chairman of the Sea Shepherd Conservation Society (SSCS) to declare that there is still hope for the critically endangered species.
During a five-day period in October and November, scientists on board the Sea Shepherd vessel Sharpie and another boat that belongs to the Whale Museum in La Paz sighted eight mature vaquitas and one or two calves in a 225-square-kilometer no-fishing zone known as the zero tolerance area (ZTA).
Vaquitas, the world’s smallest porpoise species, are endemic to the Gulf of California, where many have died after becoming entangled in nets set to catch totoaba, a fish whose swim bladder is a delicacy in China and sells for thousands of dollars per kilogram.
Vaquita numbers have declined significantly in recent decades. According to estimates by the International Committee for the Recovery of the Vaquita, numbers declined to 254 in 2008 from 567 in 1997. By 2018, estimated numbers had dropped to just 22, while there have been estimates as low as 10 more recently.
In a recent interview with the newspaper Milenio, Sea Shepherd chairman Pritam Singh said there could be more than eight mature vaquitas in the Gulf of California, but that was the number scientists were able to count.
“The good news is that the vaquitas are here and the better news is that these actions that are being taken now are very effective and that’s where the hope comes in,” he said while on board a naval vessel.
The SSCS is collaborating with the Mexican navy to protect the vaquita by assisting the removal of illegal fishing nets inside the ZTA.
“In early January 2022, Sea Shepherd and the Mexican navy began a new reporting and response protocol in the zero tolerance area,” the society said in a statement Tuesday. “… This enhanced protocol has led to a substantial reduction in the number of fishing vessels in the ZTA.”
Singh said that the sighting of eight mature vaquitas and one or two calves didn’t necessarily indicate an increase or decrease in the population of the endangered porpoise. He noted that locating vaquitas within the gulf can be difficult and that sighting efforts can be impeded by poor weather.
Sea Shepherd vessels began vaquita protection patrols in the upper Gulf of California in 2015. However, the organization stopped patrols for a period due to attacks by fishermen. One fisherman died after he was injured in an attack on two SSCS vessels on December 31, 2020.
Sea Shepherd last year reached an agreement with the navy to carry out joint patrols in order to avoid confrontations with vessels fishing illegally for totoaba in the ZTA.
“Right now is the totoaba season and that’s why we’re here in this area,” Octavio Carranza, Sea Shepherd director of ship operations, told Milenio. “The problem is that vaquitas get tangled up in the totoaba nets, … that’s why we’re here 24 hours a day.”
Singh said that through the collaboration with the navy, “we’re improving the vaquitas’ chances of survival.”
“The effectiveness of this plan and the effectiveness of the resources put here has resulted in a dramatic reduction in the threats to the vaquita, which is the time that the nets are in the water and how many nets are in the water,” he said.
The SSCS has removed over 1,000 fishing nets from the upper Gulf of California since 2015, but it is no longer permitted to do so, leaving the navy to do that work.
According to Rear Admiral José Carlos Tinoco Castrejón, 70 illegal fishing nets have been removed this year, while 172 were taken out of the water in 2021.
The navy and other federal authorities, including environmental protection agency Profepa and the National Aquaculture and Fisheries Commission, also carry out inspections on land to ensure that fishing boats entering the gulf have the required fishing permits.
The law sets a blood-alcohol limit of 0.05 grams per 100 milliliters. shutterstock
The Senate has approved a new transportation law that prohibits the use of cell phones while driving, makes license exams compulsory and orders the use of breathalyzer tests across the country.
Senators on Tuesday voted unanimously in favor of the changes made to the General Transportation and Road Safety Law (LGMSV) by the lower house of Congress. The new law will take effect after promulgation by President López Obrador.
Citizens Movement party Senator Patricia Mercado, president of the metropolitan zones and transport committee, said the law’s objective is to reduce accidents on the nation’s roads, including those involving pedestrians and cyclists.
Car accidents are the leading cause of death for children and young people up to the age of 24, she said, highlighting that an average of three children die on the road every day. Mercado said that nine of 10 accidents that cause loss of life are due to excessive speed and/or the use of alcohol.
The law establishes measures across the country to avoid such deaths, the senator said.
The law bans drivers’ use of cell phones and all other electronic devices unless they are being used in hands-free mode, and stipulates that people applying for a driver’s license must pass an exam with theoretical and practical components.
In Mexico City, one of the cities with the highest density of traffic in the world, there is currently no theoretical or practical examination process.
The new law prohibits the use of a motor vehicle with a blood alcohol content above 0.05 grams per 100 milliliters and orders ongoing breath tests in all 32 states. Drivers caught with a blood alcohol content above the legally permitted level or under the influence of drugs will lose their license for a minimum of one year, according to the new law.
It also makes the use of seatbelts by all occupants of a vehicle compulsory and stipulates that motorcyclists must wear helmets.
It also proposes maximum speed limits for different kinds of roads: 30 kilometers per hour on side streets, 50 kph on main roads without controlled access, 80 kph on main roads with controlled access, 80 kph on state highways and 110 kph on federal highways.
Buses are limited to 90 kph on federal highways while the maximum for freight vehicles is 80 kph.
National Action Party Senator Xóchitl Gálvez urged state governments to apply the new law within their borders, noting that the changes made to the law will not be of any use without their enforcement at the local level.
Mexico's biggest export to the United States in 2021 was vehicles.
Mexico was the United States’ chief trading partner in the first two months of the year by a fine margin, knocking Canada off the top spot.
Mexico had US $113.19 billion trade with its northern neighbor in January and February, according to the United States Census Bureau, with an $18.4 billion trade surplus in Mexico’s favor.
China and Canada have almost the same value of trade with the U.S. as Mexico.
Fractionally behind Mexico, the second biggest trading partner with the U.S. over the two-month period was China, which had $113.18 billion of trade. Canada was third on $112.93 billion of trade, followed by Japan and Germany which both had less than a third as much trade with the U.S.
Economy Minister Tatiana Clouthier celebrated the news on Twitter.
“Today the United States Census Bureau gave us the news that during the first two months of 2022, Mexico was placed as the #1 trading partner of the U.S. with a total trade of $113.19 billion. We will continue to strengthen our productive integration,” she wrote.
Mexico fell to second place in 2021, surpassed by Canada, despite achieving a record trade surplus of $108 billion. Last year, Canada accounted for 14.5% of U.S. international trade, Mexico had 14.4% and China had 14.3%. In November and December, Mexico slipped to become the United States’ third largest trading partner.
However, the countries are far from equal when it comes to their U.S. trade surpluses: China was by far the biggest exporter to the U.S. of the three countries.
Speaking at a summit with U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau in November, President López Obrador said economic integration was “the best instrument to face up to the competition derived from the growth of other regions of the world, particularly the productive and commercial expansion of China.”
He added at the time that the global economic imbalance could lead to eventual conflict. “In another 30 years, by 2051, China will control 42% of the global market and the United States, Mexico and Canada will be left with 12%, which in addition to being an unacceptable disproportion in the economic sphere, would keep alive the temptation of betting on the use of force to resolve this disparity, which would endanger all of us,” the president said, before urging the North American leaders to make the region more economically self-sufficient.
Article 19's regional director Leopoldo Maldonado said the administration prefers to deny issues like corruption and violence toward journalists than deal with them.
The federal government’s tendency to deny and hide human rights-related problems worsened last year, according to press freedom advocacy organization Article 19.
The organization said in its 2021 report on freedom of expression, access to information and respect of human rights in Mexico that the government’s tendency to deny and obfuscate in its official discourse had gained strength.
The report — entitled Negación (Denial) — asserted that the government refuses to acknowledge problems such as violence, corruption and impunity and in doing so “deepens” those problems.
In a press release and at the presentation of the report in Mexico City by regional director Leopoldo Maldonado, Article 19 posited that the denial of human rights-related problems is the mechanism the government uses to discredit critical discourse against it and amounts to official disinformation.
The government’s assertions and data – primarily presented at President López Obrador’s weekday press conferences – are difficult to confirm, Maldonado said.
He also said that the government’s official discourse stigmatizes the press and provokes violence against media workers, as well as other negative consequences. The press freedom organization’s report said that the news media was stigmatized by López Obrador and other government officials at least 71 times at the president’s conferences last year.
It also noted that seven journalists were murdered in 2021 and that there were 644 attacks against members of the press motivated by their journalistic work.
In its press release, Article 19 said there were 1,945 attacks against members of the press in the first three years of López Obrador’s administration, including 30 murders and two abductions.
In the same period of former president Enrique Nieto’s six-year term, there were 1,053 attacks and 15 murders of journalists, the organization said, noting that attacks increased almost 85% under López Obrador’s administration.
The 2019–21 period was Mexico’s worst ever three-year period for violence against the media, Article 19 said.
The organization made 36 urgent recommendations to the government with respect to freedom of speech and freedom of information issues. Among them: combat impunity for attacks on members of the press and eliminate legal restrictions on freedom of speech.
The way Clandestina spirits away its patrons to an unknown location and the family-style seating contributes to a lively sense of camaraderie among guests.
In Salinas de Potosi, Guerrero, located between the town of San Jeronoimito and Barra de Potosi, there is an almost mystical stretch of land known as the saltwater lagoons.
There, many landowners work their fincas (farms) to produce some of the finest salt in the state, known as the Sal de Potosi.
It was also the site of an adventurous and completely unexpected clandestine dinner that took place on March 6, hosted once again by Antonio Meneses and his wife, Chef Nuria Meneses, of Tanta Vida Restaurant in Ixtapa as well as Antonio’s brother, Chef Felipe Meneses of Angustina and Los Narvales restaurants in Zihuatanejo.
The hosts’ regular “pop-up” dining experience in Guerrero is called Clandestina: it’s a roving gourmet meal cooked by a few different fine chefs and served in a different location each time. As with all Clandestina dinners the Meneses family have hosted in pre-COVID years, part of the appeal is that guests have no idea where they will end up until they get there.
This year, 60 guests paid 2,500 pesos per person to meet at Los Narvales restaurant, where they were treated to an ice-cold drink before boarding two buses for a 45-minute ride to their surprise location.
Clandestina bused guests to a visually striking location: natural salt fields in Salinas de Potosi, Guerrero.
Along the way, several guests made bets as to where we were headed, but as we passed one possible location after the other, everyone ran out of ideas.
About 30 minutes in, we turned south off Highway 200 onto a dirt road. I remarked to everyone that this was the way to the salt fields, a place I had visited on my scooter with a friend a year ago — a wasteland of sea mounds, if memory served. I could not imagine that this would be our destination, based on some of Clandestina’s previous exotic locations.
I was wrong.
As we straggled out of the luxury charter bus into the searingly hot, desert-like landscape, I think we were uniformly stunned. The completely flat fields, dotted with what seemed like mounds of pure white salt, stretched before us as far as the eye could see.
You’ve got to be kidding me.
Just as it seemed that many wanted to turn and run, several guides greeted us hospitably and took us to a path ahead, where we could see an enormous white tent in the distance that shimmered invitingly in the sun.
Each course was beautifully presented and created by a different gourmet chef.
As we trudged through the hard-packed mud between the rows of ponds — which I later learned are to contain water directly in the sun, thus providing salt more quickly than normal — I could feel the attitude around me change from dismay to excitement.
The long table that stretched beneath the canopy when we arrived at our destination was decorated just how I would imagine it if you were in a desert oasis. Soon, everyone was chatting and laughing and enjoying themselves as the overly attentive small army of waiters poured wine and water. The food was outstanding, with all four courses presented by each chef who created it.
As an appetizer, we began with Amuse-bouche, which was a Zihua oyster, apple, and kiwi vinaigrette with citrus foam and tantarria salt. (It was so delicious, I slurped down two).
The first course, presented by Chef Felipe, consisted of mahi-mahi, macerated in herbs, with a Rubik’s cube of vegetables, salted mangrove leaves — off which we were invited to lick the salt, and mango and fruit passion sauce. The accompanying wine, a crisp, white Chenin, flowed freely.
Our second course — pumpkin pie from the garden of Casa Bettina, an organic vegetable salad, anchovy butter and basil pesto — was presented by guest chef Christian Plumail. This tasted even better than it looked, if that was possible. The wine was a pinot grigio from Italy and paired perfectly with the dish.
By now, people were feeling quite festive, and the chatter up and down the long table became even more animated as the wine continued to pour. Luckily, we were all securely seated under shade as the sun was particularly hot that day, but a warm nonstop breeze kept us all comfortable despite that.
Chef Javier Cerillo of the well-regarded Thompson Hotel in Zihuatanejo presented our course, which consisted of a single pork rib hung on the coals, along with roasted cauliflower and marinade. Delicious, it was paired with three different Italian red wines.
Dessert was chocolate cake with amaretto with a reduction of red wine, frozen yogurt and, of course, the local salt. Chef José Luis Saldana Pérez presented this final course, and as the other chefs did, he explained how he made his concoction. The wine was a lovely Brut from Querétaro.
One of the meal’s highlights was a salt miner, Michael Betancourt, who doubled as a waiter, gave a talk about the salt fields. Betancourt explained that there were many families who harvested their own fincas but that his family had been doing so for four generations. Salt continues to be the base of the economy in the towns mentioned above, where it supports large families.
The salt [harvesting] process is somewhat extensive and difficult to explain, Betancourt said. “It is more by intuition and knowledge than by following rules, but broadly speaking, it begins by extracting saltwater from a water well and then putting it in a nylon tub that will boil it in the sun to separate the water from the salt so it can be packed and sold.”
When asked how the families get their salt to market, Betancourt explained that although they sell the salt through cooperatives, his father has sold to the same customers for many years. The international market and the opportunity to export, he says, is something he is hoping to explore and expand into in the future.
After several enjoyable hours, the happy, well-fed and perhaps somewhat tipsy guests headed back to the waiting buses to return to their starting location in Zihuatanejo. Already several people were asking when the next Clandestina would happen — April 10, as it turns out.
If you’re interested, I recommend you hurry and buy tickets. If the success of this one is any indication, they won’t last long.
The writer divides her time between Canada and Zihuatanejo.
Hotel chains St. Regis, Four Seasons and Hyatt have investments planned.
The construction of at least nine new luxury hotels is under way in Los Cabos, Baja California Sur.
The chains investing in the area include St. Regis, Four Seasons and Hyatt. They will add around 2,000 rooms to the 18,000 already available to tourists in Los Cabos.
The head of the Los Cabos Hotel Association (AHLC), Lilzi Orcí Fregoso, said some of the construction had already started and more would start in the coming months. “We have around nine properties. Some have already started and others haven’t, be we know that they will open eventually … it’s important to mention that they’re super luxury, which consolidates [Los Cabos] as a luxury destination,” she said.
Orcí said the majority of the developments will have their own wastewater treatment and desalination plants.
Tourism in Los Cabos suffered during the COVID-19 pandemic. In 2021, hotels were only allowed to operate at 30% capacity. However, the tourism industry was given a boost over the holiday weekend in late March when some hotels reached 84%, making it one of the best March holiday weekends on record.
Orcí also held high expectations for the whole of Spring Break and predicted 45,000 visitors would arrive in March, which would be the most successful Spring Break on record, more than twice as busy as the 20,000 tourists that visited over the same period in 2019, which was one of the best ever.
She added that the average room rate was above US $400 per night in March compared to $300 in February.
Ukrainian refugees sheltered at the Benito Juárez sports center in Tijuana as they await processing by U.S. officials. World Central Kitchen
Up to 400 Ukrainians, 30% of whom are children, arrived in Tijuana last weekend, fleeing war in their homeland to seek asylum in the United States, immigration authorities said.
The migrants were placed in a temporary shelter Saturday at the Benito Juárez sports center, about 1 kilometer from the San Ysidro port of entry, according to officials. Around 1,700 Ukrainians have arrived in the city in recent weeks.
Enrique Lucero, Tijuana’s municipal migration affairs director, told the news agency Reuters that the city expects the refugees to keep arriving.
When migrants arrive at the shelter, they are given a number and entered into a queue to be processed at the border. They generally have to wait about 30 hours before being seen by U.S. immigration authorities.
About 10 California volunteers of Ukrainian origin arrived on Friday to welcome the migrants at Tijuana International Airport and help them with the immigration process.
The Baja California deputy minister for migration affairs, Adriana Espinoza Nolasco, said the shelter was created after there was an increase in the number of people arriving from Ukraine and congregating in an unsafe location near the border.
“People come directly to the shelter. Here they start by being assigned a number, and all this is down to the work of the volunteers. The shelter will be here indefinitely and will have everything necessary so that the people who are arriving can finish their process to reach the United States,” Espinoza added.
Nassar, a refugee from Kiev traveling with his two younger brothers, took residence in the shelter on Saturday. He aims to relocate to California, after having passed through Germany, Poland, Spain and Mexico City.
“I’m very grateful for all the treatment they are giving us, and I feel much safer seeing how they are receiving us and being in this shelter together with my brothers,” he said.
Many Ukrainian refugees have arrived in Mexico via the Mexico City and Cancún international airports, Lucero said. Almost 4.25 million people have fled Ukraine to various world destinations since the conflict started in late February, according to the United Nations. U.S. President Joe Biden said in late March that the United States would accept up to 100,000 Ukrainians to resettle in the country this year.
Meanwhile, a group of Russian refugees who spent a week camped at San Ysidro and were refused entry were quietly admitted into the U.S. at the end of March in a secret deal with Mexican officials, the news site Vice reported.
The federal government is considering placing price controls on basic food items as part of efforts to control inflation, President López Obrador said on Monday.
“We’re making a food production plan so there is greater supply and [so] we can also control inflation with food,” he told reporters at his morning press conference.
Annual inflation was 7.29% in the first half of March.
“We’re going to announce [our plan] in a few more days; we’re already working on it, … it has to do with the canasta básica, to guarantee that there are no shortages and [ensure] that we control inflation,” López Obrador said.
The canasta básica is a basic selection of foodstuffs including beans, rice, eggs and sugar.
At his Monday press conference, AMLO said the government plans to control inflation via a “food production plan” that would prevent shortages. Presidencia
Explicitly asked whether the government is considering price controls, López Obrador said the government would implement them in addition to a food production plan “if necessary.”
“First, production, … the best thing to confront inflation is to produce, [to ensure] there is supply, but price controls help as well,” he said.
Probed again whether “maximum prices” were going to be implemented, López Obrador responded:
“Not yet. What a good journalist you are, there’s no doubt. We’re going to wait. What we have to do is deal with the [inflation] problem in the best possible way. The good thing is that we’re here to serve the people, the people are our master, not companies, corporations or banks. … The basic intent is to govern for the benefit of the people. So we analyze [issues] and make decisions in accordance with what’s in the best interests of the people.”
Two experts who spoke with the newspaper Reforma raised concerns about the possibility of price controls being imposed by the government.
Alejandro Saldaña, chief economist at the financial company Ve Por Más, said that price controls “could generate shortage problems in the medium term because if [food] producers face lower prices, production is discouraged.”
James Salazar, an economic analyst at CI Banco, said price controls don’t make sense. “We’re not in a red alert scenario,” he said. Screen capture
“… Shortages, if sustained, would be reflected in even more aggressive price increases,” he said, apparently suggesting that government price controls wouldn’t work.
James Salazar, deputy director of economic analysis at CI Banco, said that price controls on basic foodstuffs would be akin to asking producers to “restrict price increases.”
That would automatically create “an imbalance in terms of supply and demand,” he said, “because you’re imposing a maximum price when there is much stronger demand and that results in shortages.”
Salazar said that price controls have been implemented in the past when inflation was high, but they didn’t work.
“In the medium and long term, you could create shortages and black markets and who ends up paying [the price] in the end is the [food] producer,” he said.
Price controls in other countries, such as Venezuela, have resulted in shortages of basic goods and fueled the popularity of black-market trading.
Salazar said that price controls don’t make sense because inflation is not as high as it has previously been, although it reached a 20-year high in November.
“We’re not in a red alert scenario,” the CI Banco analyst said. “The reality is that inflation has shot up around the whole world [but] it’s not what we saw in the ’80s or beginning of the ’90s.”
