LatinNews Daily - 27 April 2022

In brief: Mexico’s private sector warns against price controls

* Mexico’s Confederación Patronal de la República Mexicana (Coparmex), a private sector lobby group, has warned that the private sector is opposed to the government imposing price controls on basic goods, which it stated “distorts the market” and ultimately harms the consumer. According to Bloomberg, Mexico’s President Andrés Manuel López Obrador is planning to present a plan next week to control the price of items in Mexico’s basic basket of goods, in a bid to rein in fast rising inflation. Coparmex president, José Medina Mora, stated the lobby was open to dialogue with the government to seek alternative ways of shielding consumers from rising prices. Annual inflation in Mexico currently stands at 7.72%, far above the 3% target set by Mexico’s central bank, Banxico.

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