Mexico is not immune to this situation; in fact, we will feel the impact of the Middle East oil crisis from different fronts. Natural gas is in a similar situation, also with a trade deficit of around 70 percent. Although the Mexican government has made significant efforts to mitigate the inflationary impact on fuel prices, in reality, the blow will also reach families due to rising food prices. And one of the inputs already feeling this is corn. The outlook is not improving. The impact of the war in the Middle East is undeniable, but what really matters will be the duration of the conflict, as each day that passes will be felt in the world's economy. THE NEXT ENERGY CASE TAKES A TURN. The Attorney General's Office of the State of Aguascalientes (FGEA) accuses Zulema Cortez, a working mother in the financial sector, of alleged embezzlement (even though she was and has never been a public official) due to the controversial contract between the Municipality of Aguascalientes and the company Next Energy to provide clean energy to the entity. In a press conference, Verónica Cruz Sánchez, a human rights and gender perspective activist, director of the collective Las Libres, described this act as an unjust criminalization derived from structural decisions that come from the power of the governor against an ordinary worker. And for good reason, the staggering amount for which Governor Tere Jiménez would have to account during her tenure as mayor and her successor and close ally, current municipal president Leonardo Montanez, would amount to over 600 million pesos. The most visible and important issue relates to inflation in the prices of energy products, of which Mexico is a major importer. Let's remember that on one hand, about 60% of the gasoline consumed in the country is imported, mainly from the United States. Here, despite Mexico being an important regional producer, it also heavily depends on imports. The seizure of the Strait of Hormuz, through which 20% of the world's oil passes, has become a nightmare for decision-makers, but not for oil sellers, of course. And the crisis in the Strait of Hormuz will have a significant impact on the entire world economy. Not forgetting that the cost of fertilizers has doubled since the armed conflict involving the United States, Israel, and Iran began. In this context, not only has corn become more expensive, but also wheat, a fundamental element for the production of flours and other products, which has also suffered from increases in production costs. In this sense, a rather tight first quarter is foreseen in terms of inflation for all Mexicans' pockets. According to INEGI data, in the first two weeks of March, inflation in Mexico increased by 4.63 percent, above the 4.37 percent projected by analysts, and also above the 4.13 percent recorded in February. Donald Trump's tariff war is behind us as the main threat to the world economy. This should be a closed case. Morena has a complaint with the FGR against her and officials who have accompanied her in this contract. Today Zulema will appear in a hearing and possibly be arrested. There is no reason to make her a presumptive culprit, as she was not a public official to commit embezzlement; now they have already imprisoned the non-compliant businessman and even a judge rescinded the contract and ordered the money to be returned.
