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Mexico to modify import and export law to curb inflation, govt says

FILE PHOTO: Customers walk past vegetables on a makeshift stall in a market in Mexico City, Mexico April 8, 2022. REUTERS/Luis Cortes

A Mexican presidential decree will be issued on Friday to modify tariffs in the country's import and export law in a bid to curb inflation, a finance ministry spokesperson said on Thursday.

The announcement comes a week after President Andres Manuel Lopez Obrador unveiled a plan to tame inflation. As part of it, the government pledged to increase production of staple foods with the support of local business leaders.

The ministry spokesperson declined to give more details about the changes to the law ahead of publication.

Mexican headline and core inflation in April reached their highest levels since January 2001.

Mexico's central bank on Thursday raised its benchmark interest rate by 50 basis points to 7.0% and said it could take "more forceful measures" to combat inflation.

(Reporting by Valentine Hilaire; Editing by Sandra Maler)

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Dive Deeper:
Mexican girl at center of outcry over violence was sexually assaulted, murdered: autopsy
Mexico's president Andres Manuel Lopez Obrador vowed on Friday to deliver justice for the killing of a Mexican teenage girl…
Pricey tortillas: LatAm's poor struggle to afford staples
Across Latin America, the sharpest price spike in a generation has left many widely consumed local products suddenly hard to…
Mexico president says soldiers did not confront cartel 'to avoid deaths'
A military convoy in the Mexican state of Michoacan did not confront the members of a drug cartel who chased…
2 Stock Picks For Booming Tourism In Mexico
The COVID-19 pandemic put a hurt on many areas around the world that rely on international travelers to fly into…
One subscription that gives you access to news from hundreds of sites
Arguments set on whether pandemic asylum restriction can end
A federal judge is set to hear arguments on whether the Biden administration can end pandemic-related restrictions on seeking asylum…
Convicted killer on the run in Texas after stabbing guard and escaping during prison transfer
A huge manhunt is now underway to find Gonzalo Lopez, a 46-year-old convicted of capital murder
Get all your news in one place