Mexico has frozen the price of 150 basic foods to curb inflation, in the government's biggest set of price controls in more than a decade.

The government on Wednesday capped prices on foods including cooking oil, beans and fruit juices, with immediate effect until the end of 2008.

Mexico's government is concerned about the impact of soaring food bills.

Overall consumer price inflation was 4.95% over the past year, but food price inflation was far higher at 8%.

Last year, Mexicans took the streets in protest over a sharp rise in the price of tortillas, maize-based pancakes that are an important part of the national diet. ... Read full article