Reference Value Report: Living Wage and 2024 Update for Rural Honduras

This report updates the Anker Living Wage Reference Value for urban Honduras to 2024. This was HNL 9,542 (USD 391) for 2022 in the original report, comprised of a Net Living Wage of NHL 9,065 (USD 372), plus a social security contribution of HNL 477 (USD 20). The updated Anker Gross Living Wage for 2024 is HNL 10,181 (USD 410) per month, comprised of a Net Living Wage of HNL 9,824 (USD 396), plus social security contribution of HNL 356 (USD 14). Inflation in this period was 8.4%. Without accounting for inflation, the Living Wage estimated in 2022 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Wage would have decreased. Social security contributions were calculated using the most up-to-date tax laws.