At the beginning of May, the president Andres Manuel Lopez Obrador launched the plan to combat inflation, agreed with the main food companies in the country and that includes an increase in the production of grains such as corn, beans and rice, but rules out the application of price controls.
The temporary elimination of tariffs will take effect on Tuesday.
Inflation accelerated in April to levels not seen in more than 21 years at 7.68% year-on-yearwhile core inflation, considered a better parameter to measure price trends because it eliminates high-volatility products, registered a variation of 7.22%, also the highest since January 2001.
Last week, the central bank raised the key interest rate again, to 7%, in a split decision, highlighting the greater inflationary pressures derived from the impact of the conflict between Russia and Ukraine, which added to the shocks brought by the coronavirus pandemic. coronavirus.
Source: Ambito
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