The basic basket in Mexico rose by 5.3% annually in October

The extreme poverty threshold in Mexico’s cities rose from 2,112.10 pesos to 2,224.83 between October 2022 and the same month of this year, the National Council for the Evaluation of Social Development Policy (CONEVAL) reported on Monday. This means an annual increase of 5.3% in the basic food basket.

Among the rural population…

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The extreme poverty threshold in Mexico’s cities rose from 2,112.10 pesos to 2,224.83 between October 2022 and the same month of this year, the National Council for the Evaluation of Social Development Policy (CONEVAL) reported on Monday. This means an annual increase of 5.3% in the basic food basket.

Among rural residents, the extreme poverty line by income rose from P1,034.91 last year to P1,701.52 in October this year. These measurements indicate extreme poverty according to income, which is equivalent to the monetary value of a food basket per person per month.

The increase in the minimum wage had a positive impact on the families of formal workers, while social support provided by the federal government boosted consumption. Nearly nine million Mexicans escaped poverty between 2020 and 2022, according to ConVal’s latest report, which is published every two years. The number of people living in poverty remains high: 46.8 million Mexicans, or 36.3% of the total population.

However, this decline was not reflected in the number of people living in extreme poverty, which refers to those whose income is less than 1,701.52 pesos per month per person. 7.1% of the population, or 9.1 million Mexicans, live in extreme poverty. Overall, 65.7% of Mexicans have one of the basic deficiencies, and 27.9% have at least three of them.

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