Mexican president to meet with food companies for measures to control inflation

Mexican President Andres Manuel Lopez Obrador holds his fourth State of the Union address at the National Palace in Mexico City, Mexico September 1, 2022. REUTERS/Henry Romero/File Photo

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MEXICO CITY, Sept 21 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Wednesday he would meet with food producers and distributors to discuss measures to tame inflation.

Lopez Obrador told a regular press conference he was aiming to make commitments with companies to prevent price increases on 24 staple items.

About twenty companies will take part in the meeting.

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Energy cost inflation is “under control” thanks to government subsidies, Lopez Obrador said, but rising food prices must be tackled.

Mexico’s annual inflation hit 8.70% in August, its highest level in almost 22 years. Read more

Data from August showed the food, drink and tobacco price category rose 12.94% year-on-year, the biggest increase among items considered for headline inflation.

Mexico’s national statistics agency INEGI will release consumer price data for the first half of September on Thursday.

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Reporting by Valentine Hilaire and Ana Isabel Martinez; edited by Cassandra Garrison

Our standards: The Thomson Reuters Trust Principles.

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