Mexican Inflation Hits 3-Year High On Food, Gas Prices

MEXICO CITY — Mexico's central bank says rising food and gasoline prices have pushed inflation to its highest level in three years.

The bank says annual inflation rose to 5.39 percent in July, the highest since November 2004.

It said Thursday that the soaring cost of foods such as eggs and apples, and of gasoline, electricity and public transportation contributed to the spike.

The central bank had set a 3 percent inflation target for 2008. On July 30, the bank said that won't be likely met until 2010 due to rising commodity prices.

Comments

[Harod]

If the Mexican economy crashes we could have another 3rd world dictator like Chaves or Castro on our souther border and we now have the Chinese building nuclear subs and aircraft carriers they are going to need to deploy its new navy so we could end up with Chinese naval bases in the Americas so as far as im concerned we need to take down the economic border with Mexico and absorb them into the greater US economy..

[marymansour]

Well I guess Mexico can join the rest of us in the world.

[Mexitli]

Food prices in Mexico rose because "American" (caugh, caugh) snobs want to power their SUV's with MAIZE.

Americans drive "green" while they starve human beings.

Thanks.

[geobushono]

and calderon won by0.56% in a recount.........they have more problems than inflation.
this ruination of the Mexican economy is a driver of illegal immigration.

Hopefully The People of Mexico will get the message just like we did..........you have to vote in such great numbers that PAN can't steal another election.

http://en.wikipedia.org/wiki/Felipe_Calder%C3%B3n

[leduck]

you want to go back to 70s years of ruling pri?
whether your right or left, what kind of coruption would 70 years worth of rule bring about
maybe what they really need, as well as us, are more then two major ruling parties

[TXfemmom]

The rise in prices on food is particularly difficult for poor Mexicans, who have a minimum wage of around $5.50 a day.

[marymansour]

Actually, if they make $5.50 a day they're way ahead of the average African.

[Pquilson]

Thought the article was about Mexico, not Africa.

[outnow]

What do you expect when elections are stolen and NAFTA is rammed down your throat? Central bank? It's probably controlled by our Fed - who owns the Fed - don't ask and don't tell. Nice democracies. You are not entitled to even know who controls and owns the central bank. They need another Pancho Villa, not a Wall Street clone. The country is in ruins due to corrupt officials and drug dealers. On the bright side, the migration to the US is diminishing because we are in a recession and cannot afford the services of sub-minimum wage workers.

[mexicanamerican1948]

"Bright side"???, the immigration is bad?. You got it wrong! Bring on a better economy in the USA!!, that way we can have more illegal immigration and complete the reconquest(reconquista) No problem(no problema) I look forward to it. We already did it in Calfornia, Arizona and Texas next. Deal with reality amigo...

[Mexitli]

LoL!

[leduck]

all my family came out of mexico
and i got to say mr. la raza....,
you are full of it
reconquista will never happen

California, texas, and arizona are never going back to mexico
tard

[leduck]

the country is in trouble because mexican oil production is in terminal decline
cantarell is crashing

i only hope my dad sister's family don't caught up in the madness