On Wednesday, May 4, President Andrés Manuel López Obrador says he will announce a plan to combat inflation and hardships caused by increases in the cost of living.
“We are reaching an agreement with large food producers, distributors, and department stores. Almost everyone is agreeing to help,” the president said.
López Obrador said the aim is to fix an across-the-board, “fair” fixed price for a basic “basket” of 24 essential products, which won’t vary in different regions of the nation.
Annualized inflation in Mexico reached 7.72 percent at the end of the second week of April.