Connect with PVAngelsJoin PVAngels on FacebookJoin PVAngels on TwitterPVAngels News Feeds Tell a Friend PVAngels Newsletter  
Home Home   About PVAngels   Get Involved   Local News   Event Calendar   Add a Charity   Partners for Change   Contact Us      Search Search PVAngels 

Mexico News & Politics

Puerto Vallarta • Riviera Nayarit 

  News &
Politics
Issues &
Opinions
Business &
Finance
Health &
Evironment
Lifestyle &
Entertainment
Travel &
Outdoors
Science &
Technology

Citizens' Purchasing Power Takes a Nose Dive Under President Pena Nieto

Elena Toledo - PanAm Post
go to original
January 3, 2017



Rising inflation has greatly eroded Mexicans’ purchasing power in recent years (Juan Uribe)

The increase in gasoline prices will trigger inflation as predicted by the Central Bank of Mexico (Banxico), and although the government of President Enrique Peña Nieto has announced an increase to the minimum wage, this will not be enough.

The purchasing power of Mexicans has decreased by 11.1% during the tenure of the Peña Nieto government according to data on the minimum wage, inflation, and price indexes collected by the Center for Multidisciplinary Analysis of the National Autonomous University of Mexico (UNAM).

Price indexes in Mexico reveal that at the end of 2016 the essential food items basket, which estimates a food budget for a family of four, had a cost of 218.06 pesos per day (USD $10.90), indicating that a worker at minimum wage can only afford 33% of this budget.

The situation was very different in 2013 when Peña Nieto took office with the minimum wage at 64.76 pesos per day (USD $3.25) and the essential food items basket was estimated to cost 171.86 pesos per day (USD $8.60).

Since 1987 the income of Mexican families has increased to 1,129% in correspondence with the minimum wage; however due to inflation, purchasing power has actually declined over the last 30 years.

During those 30 years the essential food items basket has increased in cost by an astounding 5,800%.

Read the rest at PanAm Post | Español

  Check out Food Bank of Puerto Vallarta


We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!


Meet the Charities

Community Services

Environmental

Animals & Wildlife

Health Care

Youth & Family

Education

Culture & Recreation

Special Interests


How You Can Help

Use Your Powers for Good

Add Your Favorite Charity

Save a Life - Give Blood

 

Partners for Change

Meet the Partners

Become a Partner for Change


About Puerto Vallarta

Puerto Vallarta Local News

Local Event Calendar

Puerto Vallarta Videos

Puerto Vallarta Photos

Historic Puerto Vallarta

Local Area Maps

Important Phone Numbers

CraigsList in Puerto Vallarta


News Around Mexico

Mexico Issues & Opinions

Mexico Business News

Mexico Evironmental News

Lifestyle & Entertainment

Mexico Travel & Outdoors

Science & Technology News

Mexico News & Travel Videos


Stay Connected

Find PVAngels on Facebook Follow PVAngels on Twitter Sign up PVAngels Newsletter RSS Feeds on PVAngels


Resources

About PVAngels

Add Your Charity

Add Your News & Events

Locate Yourself on Our Maps

Jobs - Join PVAngels Team


FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance a more in-depth understanding of critical issues facing the world. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 USC Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information click here. If you wish to use copyrighted material from this site for purposes that go beyond 'fair use', you must obtain permission from the copyright owner.

m3 • local actions from global awareness