Mexican protests continue as consumer prices rise
By Rafael Azul
12 January 2017
Already the effects of the fuel shock are adding to Mexico’s inflation. The increase in the daily minimum wage from 73 to 80.04 pesos (US $3.80), agreed upon last December, that took effect this New Year’s Day, has lost all its buying power. Under the impact of a price explosion in basic items, such as tortillas, beans and now fuel, adjusted for inflation, the new minimum wage represents a regression in living standards, in the space of one month.