Walmart Mexico Freezes Prices on 500 Products
As of November 7, 2008 Walmart Mexico has frozen the prices on over 500 basic products due to recent changes in the economy. The price freeze is to remain in effect until the end of 2008.
According to this Excelsior.com report Senior vice-president of Human Resources of WalMart of Mexico, Raúl Argüelles said:
“In WalMart of Mexico we have redoubled efforts to offer to our clients savings in the products that are basic like tortillas, whose price we will maintain without rise in all our supermarkets .”
With the inflation that has been happening, and will continue to happen, this will mean a savings of 10-40% on these basic products until the end of the year. After that… well, we’re on our own.
It’s nice to see that with the current situation Mexico’s economy and corporations are in, even a mega-corporation like Walmart can show a bit of regard to the people.
In other Mexico News
•Things are not looking good for Commercial Mexicana, JP Morgan Chase has sued them for failure to maintain collateral on derivitive transactions (spending money they didn’t have).
•Oh, and Mexico City is giving out free viagra now if you are over 70. (I’m making a heroic effort to resist an uncouth pun…)
•And apparently President Bush speaks Spanish. In a recent meeting he greeted Calderón with “Hey amigo, what’s up?”
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it’s nice to know that walmart is offering lower prices, but the soriana offers the same thing. what is a problem is that alot of products of la comercial cost more. if they can drop their prices, now we’re talking!
with the current crisis, and in a country of minimal wage, mazanillo probably needs lower priced discount supermarkets like chedraui and bodega aurrera in the works. we need cheaper options more than ever to make ends meet.
I wonder what the plan is for Manzanillo in the long run, or if there is a plan at all. All the new places going in are very expensive by local standards. I don’t know how most of the locals, myself included, could afford a cup of coffee at Starbucks, or a ream of paper at Office Max. Maybe they are trying to make it more exclusive? The terrible word they use in New York is ‘gentrification.’
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