President Andres Manuel Lopez Obrador said Monday that in about a week it will present a plan to control the rampant inflation in the country, which is at levels not seen since the beginning of 2001.
The National consumer price index (INPC) accelerated more than expected in the first half of April to 7.72% year-on-year, far exceeding the official target of 3% +/- one percentage point.
“I believe that in one more week we will present the plan,” said the president, who had previously mentioned that he intended to promote an initiative to counteract the rise in prices, especially in food. “That is what my concern is now and of course my occupation,” he added during his usual morning conference.
The president had warned at the end of March that if the inflation remains high, the government he heads would establish price controls for food.
“We have been able to control inflation, to get it out of control completely, by managing fuel prices and we are going to do the same in the case of food if inflation continues or if it remains high,” he said. Lopez Obrador on that occasion.