Tortilla, gasoline prices unnerve Mexicans as election year begins
JANUARY 3, 2018 / 7:24 PM / UPDATED AN HOUR AGO
Diego Oré, David Alire Garcia
MEXICO CITY (Reuters) - Mexico’s government on Wednesday denounced forecast price hikes by fuel retailers and tortilla makers, saying increases were unjustified as it sought to allay public concern about high inflation at the start of a presidential election year.
Prices for corn tortillas, the Mexican staple, are forecast to rise in the coming days by between nearly 11 and 21 percent, according to figures from the National Union of Industrial Mills and Tortillas.
Meanwhile, gasoline and diesel prices are seen by one retail association rising an average of about 7 percent this year due to tax changes, volatility of the peso currency and higher crude prices.
“That they say they are now going to hike prices is unjustified. We don’t see the market conditions for this to happen,” said Jose Rogelio Garza, a deputy economy minister.
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https://www.reuters.com/article/us-mexico-economy/tortilla-gasoline-prices-unnerve-mexicans-as-election-year-begins-idUSKBN1ET054