Economics

Mexico Inks Deal With Top Companies to Tame Rising Inflation

Government presents agreement with businesses for 24 products
Deal will initially last six months, includes tariff reduction

A worker pulls a cart loaded with boxes at the Central de Abastos Market in Mexico City, Mexico, on Wednesday, Jan. 12, 2022.Photographer: Alejandro Cegarra/Bloomberg

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By Maya Averbuch and Carolina Gonzalez

May 4, 2022 at 2:40 PM UTC

Updated on

May 4, 2022 at 4:20 PM UTC

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Mexico’s government has struck a deal with leading companies to temporarily cap prices on 24 food and other basic products in an effort to temper inflation that has surged to two-decade highs.