Economy"Write it down on my account": Due to inflation,...

"Write it down on my account": Due to inflation, Mexicans consume by the piece and ask for credit from small businesses

Inflation has reduced the consumption capacity of Mexicans and they have to ask for credit to be able to buy food.

With one in July, people have had to reduce their purchases to half a kilo instead of full kilos in products such as tortillas and eggs, according to the National Association of Small Merchants (ANPEC).

And the panorama looks complicated before the purchase of school supplies that Mexican families will make before the soon return to classes.

The consumption of tortilla has been reduced to half a kilo, the egg is now sold by the piece, fewer liters of milk are sold; Sausages and meats are also sold in quantities of less than half a kilo, said Cuauhtémoc Rivera, president of ANPEC, at a conference on Tuesday.

In July, one of the products that had the most impact on inflation was eggs, in addition to packaged soft drinks. Customers have also stopped prioritizing their favorite brands and are instead looking for those products with the lowest prices.

Customers of 84% of small businesses in Mexico ask for credit, especially in states such as Guerrero, Chiapas, Oaxaca, Hidalgo and Zacatecas. “The small merchant has a sixth sense that gives him the opportunity to be close to his clients to know who he does trust and who he doesn’t trust,” said Rivera.

The ANPEC highlighted that with inflation, the average consumption ticket of Mexicans has been reduced by 50% compared to last October.

Products that have stopped consuming the most

The Survey: Inflation and shortages that the ANPEC did to small businesses highlights that the products that were not consumed the most in these establishments are canned goods, eggs, snacks, sweets and dairy products.

84% of small businesses have noticed that there is less consumption on the part of their customers, although the days with the most sales are Saturday, Sunday and Friday, especially when it is a fortnight.

With high inflation, consumers have turned to bulk products, especially sugar, rice and beans.

Will El Buen Fin be able to stop inflation?

If it wants to be successful, the sales season of El Buen Fin 2022 must have very attractive offers and discounts to make Mexicans consume and beat inflation.

Get rid of inflation! Gentera achieves triple-digit profits

Despite the good dynamism of its portfolio, the institution will show caution in 2023 due to the "January slope" and the possible defaults of its clients.

Arca Continental enters the distribution of Don Julio tequila

The Coca-Cola bottler will now test distillate distribution, while reinforcing Topo Chico's presence in the ready-to-drink category.

Inflation in Mexico picks up 8.5% in the first half of October

The rise in prices more than doubles Banxico's goal and indicates that the entity will continue to make credit more expensive at its next monetary policy meeting.

Inflation does not spare even beer; has its biggest rise in 12 years

The chela registered an increase of 11.2% during September of this year, the highest variation in 151 months; the most expensive 355-milliliter bottle was found in Cuernavaca Morelos.