Mexican beer price hike probed
Government investigates identical increases by two dominant brewers
Jan 21, 2000 - The Mexican government launched an investigation after the country's two leading breweries both raised domestic beer prices within a day of each other.
The Federal Competition Commission (CFC) "launched an investigation over the identical beer price hikes," said a spokesman for the agency.
Modelo and Femsa dominate the market, selling 99% of the beer Mexicans drink. They typically raise prices by the same amount each year, but this time drew authorities' attention when the nearly identical increases were announced within a day of each other.
First, Modelo said it was boosting prices by an average 16% in the domestic market. A day later, Femsa announced increases of 14-16%. Inflation for 2000 is forecast at 10-11%.
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