As Mexico’s inflation hits 8.15%, families cut back

Por FABIOLA SÁNCHEZ
Associated Press

MEXICO CITY (AP) — Mexico’s annualized inflation rate has hit 8.15% in July, the highest in more than two decades. But inflation in prices for food and non-alcholic beverages is even higher, with prices rising 14.5% over the last 12 months. Many Mexican families are feeling the pinch, and going without some of the costlier items like meat. The Mexican government raised the country’s minimum wage by 22% in 2022 to about $8.50 per day, but much of that increase has now been consumed by inflation. Housewife Carla Valadez was shopping at a Mexico City market Tuesday, and had to buy vegetables instead of pork because of the prices.