Merida’s High Cost of Living vs Low Wages

Merida, Yucatan — The Yucatan branch of the Mexican Institute of Finance Executives (IMEF) has stated that Merida is one of the most expensive cities in Mexico, yet it has one of the lowest levels of purchasing power.

Isaías Marrufo Góngora, president of the IMEF in Yucatan, indicated that, based on data from the National Institute of Statistics and Geography (Inegi), the Yucatecan capital ranks fourth among the most costly cities to live in.

He specified that the most expensive city is Monterrey, Nuevo Leon, with an index of 49.58 for the increase in housing and services, followed by Querétaro, with 44.4; Mexico City, with 44.20; Merida, Yucatan, with 41.77; and Guadalajara, Jalisco, with 40.14.

"Despite the fact that Merida is more expensive than Guadalajara, the purchasing power of the inhabitants of Guadalajara is higher, with an index of 43 compared to the 35 registered in the Yucatecan capital," he stated.

He specified that one of the factors that has contributed to the rising cost of living is the massive arrival of families from other states.

"It has benefited us enormously in the construction industry sector with more houses that have been built, but they generate inflation and they generate an increase in the cost of living," he pointed out.

Marrufo Góngora recommended that Yucatecan families adjust their consumption habits in light of the economic outlook.