The Rosca de Reyes: another victim of inflation in Mexico

This panorama has led “many families to limit the gift of toys and keeping the bagel or, in a strange case, to have the celebration happen at night,” ANPEC said in a statement on Tuesday.

“To show a button: the Three Wise Men open the poker of the prediction that many analysts, bankers, investors and active forces in the market have regarding the economic future of 2023, derived from the imminent recession in which the United States economy will enter, the prolongation of the war in Eastern Europe between Russia and Ukraine, the increase in energy prices, particularly gas due to the harsh winter that is coming, and, in the particular case of our country, the political polarization caused by the presidential succession”, declared Cuauhtémoc Rivera, president of ANPEC.

To the previous points we must add another factor, higher inflation. In the first half of December, the consumer price index stood at 7.7% and this Thursday the Inegi will announce how the indicator ended in the last month of last year.

Another factor that negatively affects the traditional toy industry has to do with the commercial camping of contraband toys, sold for up to half the price of a legal toy, ANPEC stressed in the statement.