Friday, March 5, 2010

$ 5 a day

There is a worldwide economic crisis and today we will not go into how come this has happened.

What we will do is to have a closer observation what this economic crisis means for a country like Mexico.

Data comes from the Federal Consumer Protection Agency (Profeco), an official Mexican institution.

In just three years, the cost of primary foods in Mexico has risen 66.7 %.
For example, in 2006 it cost $ 67 to buy 42 items.
In 2009 those same 42 items cost more than a $ 100.
This is shocking because $ 100 represents 23.6 days of minimum wage.
A person earning the minimum wage in December 2006 worked 10.4 hours to buy 4 pounds of steak.
Three years later this worker has to spend 13 hours of work to buy his 4 pounds of steak.

In general, over the last two years, the purchasing power of Mexican workers has been fallen by 41 percent.

Currently the minimum wage ranges between $ 4.19 and $ 4.42 per 8-hour day depending on the area.
Making people suffer because prices of products such as corn, wheat flour, milk, soft drinks, crackers, eggs, sugar, beans, rice and soups have risen by as much as 50 % or more.

Other shocking movements on the economic front in Mexico are the prices of fuel.
In january 2010 the price of regular gasoline was increased with almost 20 %.
Diesel was increased almost 50 %.

When things go bad, the ones who were already in a disadvantageous position suffer the most.
They have to work for less than $ 5 a day and can't even buy the food the family needs.
This, if they are lucky to find a job.
In Mexico.


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