There was a news story yesterday which examined how the food crisis is hitting the poor in Mexico. The Government has decided to give its poorest citizens a monthly cash payment of 120 pesos ($11.55; £5.85) to help them cope with rising food prices. The Government also decided to cut tariffs on imported food such as corn, wheat and rice which cannot be good for Mexican farmers.
The article also mentions that inflation inclusing food prices has increased by 25% in Vietnam
Inflation in Mexico is at 4.55% due to increases in the cost of tomatoes, chicken and cooking oil. The monthly payment will go 26 million people and is just over double the national daily minimum wage of 50 pesos.
IB students and IGCSE need to make a note of what is happening with this situation for case study material.
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