U.S. Inflation Continues to Rock Mexico's Economy Forcing More Migrants to the Border
By Alex J. Rouhandeh On 1/4/22 at 5:38 PM EST
The United States posted an inflation rate of roughly 6.8 percent at the end of 2021, putting it sixth among the countries that saw the highest rate of inflation increases among the world's 20 largest economies. Sitting next to the United States as number five on that list was its neighbor, Mexico.
Mexico ended 2021 with an inflation rate of almost 7.4 percent, Trading Economics reported. While 2021 saw the nation's economy grow by almost 6 percent. It, like the United States—which grew by 5.6 percent—now faces an uncertainty as it faces a steady wave of price increases.
Like its neighbor to the north, which has seen a wave of wage jumps, Mexico too has moved to increase the earnings of its workforce, with communities at the border hiking their hourly minimum wage rate from $1.33 an hour to $1.62 and hour—a 22 percent increase.
https://www.newsweek.com/us-inflation-continues-rock-mexicos-economy-forcing-more-migrants-border-1665594?piano_t=1
