Mexico president reaches agreement with companies to maintain basic food prices


MEXICO CITY, Sept 23 (Reuters) – Mexican President Andres Manuel Lopez Obrador mentioned on Friday he had reached an settlement with corporations to take care of costs of fundamental meals objects, as inflation continues to tick up.

It was a unanimous resolution, he mentioned throughout a daily information convention, with out confirming the ultimate variety of corporations concerned however noting that they included producers and distributors of corn, hen, eggs and beef.

The president mentioned earlier this week that 20 corporations would participate within the assembly and would goal 24 fundamental meals objects.

Lopez Obrador added Friday he’ll announce new measures to tame inflation on Oct. 3, although he mentioned he had dominated out unilateral worth controls on meals.

Mexican shopper costs rose greater than anticipated in the course of the first half of September, official information confirmed on Thursday, preserving inflation close to a 22-year excessive.

Annual inflation in Latin America’s second-largest financial system hit 8.76%.

Knowledge for the primary 15 days of September confirmed meals, beverage and tobacco costs rose 13.27% year-on-year.

Lopez Obrador additionally introduced on Friday plans for a “appreciable” rise within the minimal wage, in an extra effort to ease inflationary pressures.

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