Mexico will amend the import and export law to curb inflation, the government told Reuters

Mexico will amend the import and export law to curb inflation, the government told Reuters

© Reuters. FILE PHOTO: Customers Pass By Vegetables At An Improvised Market Stall In Mexico City, Mexico April 8, 2022. REUTERS / Luis Cortes

MEXICO CITY (Reuters) – A decree of the Mexican president will be issued on Friday, which will modify the tariffs in the import and export law of the country in an attempt to curb inflation, a spokesman for the Ministry of Finance said on Thursday.

The announcement comes a week after President Andres Manuel Lopez Obrador unveiled a plan to curb inflation. As part of that, the government has pledged to increase basic food production with the support of local business leaders.

A ministry spokesman declined to give more details about the changes to the law before it was published.

Mexico’s headline and core inflation reached their highest level since January 2001.

The Central Bank of Mexico on Thursday raised the reference interest rate by 50 basis points to 7.0 percent and announced that it could take “stronger measures” in the fight against inflation.



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