The minimum wage in Cuba is 2,100 Cuban pesos (CUP). In this article we will tell you what can be bought with this income in 2024.
The Cuban economist Pedro Monreal he pointed previously that even the workers who earn the most in Cuba have salaries (6,281 CUP) that barely exceed the cost of basic consumption by 3%. So what can be left for those who have a minimum income or a pension on the island? Let’s see.
To calculate what can be bought with a minimum wage in Cuba, we take as an example the prices of five products in Havana, the country’s capital. They are not products chosen at random. They are essential on the Cuban table.
According to the publication of the National Office of Statistics and Information of the Republic of Cuba (GOOD), these are their minimum and maximum prices, as of December 2023:
– Pork leg: 480 – 650 Cuban pesos per pound
– Black beans: 420 – 620 pesos per pound
– White rice: 170 pesos per pound
– Eggs: 83 – 120 pesos per unit
– Coffee: 80 – 1400 pesos 115 grams
How much can you buy with the minimum wage?
Using the highest price for each product, we calculate how much of each product can be purchased monthly with the Cuban minimum wage:
- Pork leg: 3.23 pounds
- Black beans: 3.39 pounds
- White rice: 12.35 pounds
- Eggs: 17.5 units
- Coffee: 1.5 packages of 115 grams
These calculations are approximate and may vary depending on the exact prices in the different territories of the island.
Buy with the minimum wage in Cuba 2024
Let’s now calculate a purchase that includes all these products in the month, with the minimum wage in Cuba in 2024. In this case we will use the “official” minimum price of these products: This is an example of how the salary might be distributed:
– Pork leg: 1 pound at 480 pesos.
– Black beans: 1 pound at 420 pesos.
– White rice: 3 pounds at 510 pesos (170 pesos per pound).
– Eggs: a dozen (12 eggs) at 996 pesos (83 pesos per egg).
– Coffee: 1 package of 115 grams at 80 pesos.
The purchase amounts to a total of 2,486 pesos, which exceeds the Cuban minimum wage (2,100).
It must be taken into account that these prices are those observed through the CPI system in the different establishments, whether in the Agricultural Market or the Non-State Market.
But we know that in reality, there are shortages of all products and those subsidized by the winery are becoming less and less, leaving purchasing from individuals practically the only option.
Additionally, these calculations do not take into account other essential expenses such as utility bills, medications, or clothing and shoes. Therefore, although they provide an idea of what a minimum wage can buy in Cuba, the reality can be much worse.
Tell us how you distribute it in your case and if these are the prices in your territories.
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