After several weeks of rumors, Mexico has decided to freeze the prices of 150 staples to stem the rising inflation, in a step (price controls) that has not been seen in this country for over a decade.

In the afternoon yesterday, the Mexican government confirmed the limits in a lot of staple foods, including cooking oil, grains and fruit juices, which will have an immediate effect until the end of the year.

This decision is not a surprise considering that during the past year inflation rising almost five percent, but inflation in food reached eight percent, something that worried the government.

Speaking on the step taken by the government, the President of Mexico, Felipe Calderón, said that price controls will directly benefit millions of Mexicans in all peoples of the country, also said that reflects the commitment of entrepreneurs with the country and stability.