Inflation in Mexico and how it affects our quality of life

Inflation in Mexico and how it affects our quality of life

Even from Portugal, where the annual conference of the European Central Bank was held, monetary authorities warned that the inflation will be painful and threatens to cause a collapse in growth .

Even the Mexican Agustín Carstens, general manager of the Bank for International Settlements (BIS, for its acronym in English), came out to ask for a more certain and speedy fight against the problem.

These authorized voices do nothing more than measure how complex these times are and how difficult it will be to turn them around immediately. That is why we also make the recommendation to our readers to take care of their money.

But returning to the question about how it affects our quality of life, in Expansión we had a couple of contents that let us see how the effects are already felt.

In the first place, inflation, coupled with covid-19, has “shrinked personal protection.” In an interview with the president of Seguros Monterrey New York Life, Gustavo Cantú, the expert tells us that Mexicans are keeping their health and life insurance but are choosing to lower the sum insured.

On the one hand, it is positive that people do not stop having coverage that shields them against an emergency, but the negative side is that these can be more limited due to the need to cut that expense and go for less extensive protections.

Second, inflation has forced users to reduce their spending on connectivity, which means lowering the resources allocated for internet packages, pay TV and mobile recharges.

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So it is becoming more and more common to see cases of families and people tightening their belts and stopping consuming some products to only make way for what is merely necessary. This is how inflation erodes the purchasing power of the inhabitants, especially of those who have less.

By the way, inflation will be so hard in Mexico that the number of divorces has decreased. We say this because this difficult decision for couples has a high cost, it never hurts to know .

Speaking of phenomena, there is a very curious one that is taking place and that goes in the opposite direction of what we have just told. Although inflation has forced us to change some consumption patterns, the pandemic has also moved the chip in some segments of the population.

If you are one of those who love to use filters so that your photos come out with a better perspective of reality, this information will surely interest you.

Turns out the aesthetic medicine lives a boom . The need to use social networks or make video calls has made more people willing to invest in botox and facial rejuvenation procedures… Looking good on camera does cost money and there are businesses that understand it perfectly.