- December 18, 2021
- Posted by: Stratford Team
- Category: Business
Mexico’s President Andres Manuel Lopez Obrador listens to the President of the Supreme Court of Justice (SCJN) Arturo Zaldivar delivering his third annual report, at the Court premises in Mexico City, Mexico December 15, 2021. REUTERS/Gustavo Graf/File Photo
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MEXICO CITY, Dec 17 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Friday his administration had spoken with one of the country’s top business associations to ask for help persuading companies not to raise prices in the face of high inflation.
Mexican inflation in November was 7.37%, the highest level in two decades. The central bank on Thursday stepped up efforts to rein in price pressures by raising its benchmark interest rate 50 basis points to 5.50%, outpacing market expectations.
Lopez Obrador said some business leaders were abusing prices with 15% to 20% increases, even though inflation is lower.
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