The Tortilla Rebellion
Surging fuel prices in Mexico have caused financial speculation on maize that is causing inflated prices for corn tortillas, a basic staple in Mexicans' diet.
In seven out of 10 cities tortillas have had an increase of 5 percent reaching 80 cents per kilogram in a country where the daily minimum wage is US$3.8 and where nearly half the population lives in poverty, reported TeleSur.
The recent 20 percent increase in fuel prices, fanned with the unstoppable slide of the peso against the dollar, have accelerated inflation on food prices, reports The Financial Times.
If the cost of mainstays of the Mexican diet such as tortillas, eggs, milk and chicken starts to soar, an already unpopular government can expect snowballing protests in a country where nearly half the population lives in poverty, according to the British newspaper.
The fuel price rises sparked a wave of protests across the country that Mr Peña Nieto hasn't been able to calm down and the peso has continued to plumb. A wave of corruption scandals, a worsening economy and mounting insecurity have already slashed the president’s popularity.
As reported in The Financial Times.