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Mexican president eyes food price controls if inflation stays high -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Mexican President Andres Manuel Obrador addresses a press conference before the official opening of Felipe Angeles Airport, Zumpango in Mexico State. March 21st 2022. REUTERS/Luis Cortes/File Photograph

MEXICO CITY, (Reuters) – Mexican President Andres Manuel Lopez Obrador stated on Thursday that his government would seek to lower food prices if the inflation rate is not reduced.

He said that they had managed fuel prices to manage inflation. “We have been able, in part, to stop inflation from spiraling out of control. We will do the exact same with food inflation if the situation continues or it gets worse.”

He did not provide more details.

Mexico’s inflation rate has been above 7% for the past week, exceedingly double the target rate of 3% set by the central bank. It raised its benchmark rate to 6.5% last week.

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