Reference Value Report: Living Income Report and 2024 Update for Rural Papua New Guinea
2024 Reference Value Update Report: Living Income Report for Rural Papua New Guinea
Abstract
This report updates the Anker Living Income Reference Value for rural Papua New Guinea to June 2024. In the original report of 2020, the estimated living income for rural areas in Papua New Guinea was PGK 1,593 per month. 2 The updated Living Income for 2024 in rural Papua New Guinea is PGK 1,762 per month. Inflation in this period was 10.6%.3 Without accounting for inflation, the Living Income estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Income would have decreased. It is worth noting that the Living Income in local currency estimated in 2023 and in 2024 are very similar because the Papua New Guinea economy had an average inflation rate close to 0% between June 2023 and June 2024.
Download the update report for free by typing in your email below
Original Report
2020 Reference Value Report: Living Income Report for Rural Papua New Guinea
Abstract
The Anker Living Income Reference Value for 2020 for rural Papua New Guinea (PNG) is PGK 1,593 (USD 460)2 per month with a 95% confidence around it from PGK 1,432 (USD 414) to PGK 1,773 (USD 512). This is the net income required for typical rural households to be able to afford a basic but decent living standard in a typical rural area of Papua New Guinea.
“A living income is the net annual income required for a household in a particular place to afford a decent standard of living for all members of that household. Elements of a decent standard of living include: food, water, housing, education, healthcare, transport, clothing, and other essential needs including provision for unexpected events” (Living Income Community of Practice).
Download the full report for free by typing in your email below.
SUPPORT US
Our work helps to transform lives. But we can’t do what we do without you.
We are a non-profit and philanthropic support is essential for us to continue our pioneering work. We ask kindly that if you do use our research in your work you show your appreciation by donating.
Find out how you can support us by clicking here