Mexican government and businesses sign deal to control inflation of key goods

By Murphy Woodhouse
Published: Tuesday, October 4, 2022 - 6:01pm
Updated: Wednesday, October 5, 2022 - 9:39am

Government and business leaders in Mexico have signed a deal to control inflation on key goods.

Mexico’s so-called canasta basica — or basic basket of goods — includes things like rice, eggs, potatoes and corn tortillas. The prices of its component goods have been rising, and officials hope to reverse that.

On Monday, Finance Minister Rogelio Ramirez de la O said that in the United States, the main engine of inflation has been demand, while in Mexico it has been a supply issue.

To address that, the businesses that signed onto the agreement this week will receive licenses that ease the importing of food and packaging materials, among other benefits. The deal also comes with commitments from them, like manufacturers of corn flour agreeing to not raise prices through late February.

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