Mexico declared a 20% increase in the country’s daily minimum wage Thursday.
Starting next year, the basic minimum wage will be 207 pesos, or about $10.50, for an eight-hour day. That’s up from the current level of 172 pesos, or about $8.80 per day.
Stubbornly high inflation, however, is expected to eat into that increase. Inflation, especially for basic goods, ran at an average of about 9% this year, and is expected to continue high next year.
Wages along the northern border, where prices are higher, will be . . .