| | |  Business News | December 2008 
Mexico Raises 2009 Daily Minimum Wage Below Inflation Rate
 Thomas Black - Bloomberg
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Mexico will raise the minimum daily wage an average of 4.6 percent next year, more than 1.6 percentage points below the current annual inflation rate.
Minimum wages in Mexico’s three geographic zones will be raised on Jan. 1, the National Minimum Wage Commission said in a statement. The annual inflation rate in November was 6.23 percent.
The minimum wage in Zone A, which includes Mexico City, Acapulco and several cities on the U.S. border including Ciudad Juarez and Tijuana, will increase to 54.80 pesos ($4.18) a day from 52.59 pesos this year. In Zone B, wages will rise to 53.26 pesos daily from 50.96 pesos. The zone includes some of Mexico’s largest cities such as Monterrey and Guadalajara. Wages in Zone C, which applies to the majority of cities, will increase to 51.95 pesos a day from 49.50 this year.
In 2008, Mexico increased the minimum wage by 4 percent and annual inflation at the end of 2007 was 3.76 percent. This year, wages in dollars will fall because of a decline in the peso. The lowest daily minimum wage in dollars fell to $3.96 using today’s peso value compared with $4.55 for the same wage category using the exchange rate on Jan. 1, 2008.
To contact the reporter on this story: Thomas Black in Monterrey, Mexico, at tblack(at)bloomberg.net. |
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