Reference Value Report: Living Wage Report and 2024 Update for Rural Peru
2024 Reference Value Update Report: Living Wage Report for Rural Peru
Abstract
This report updates the Anker Living Wage Reference Value for rural Peru to 2024. This was PEN 1,455 (USD 428) for 2020 in the original report, and comprised a Net Living Wage of PEN 1,266 (USD 372), plus a social security contribution of PEN 189 (USD 56).The updated Anker Living Wage for 2024 is PEN 1,997 (USD 527) per month, comprising a Net Living Wage of PEN 1,558 (USD 411), plus social security contribution of PEN 439 (USD 116). Inflation in national CPI during this period was 23% . Without accounting for inflation, the living wage 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 wage would have decreased. Social security contributions were calculated using the most up-to-date laws.
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Original Report
2020 Reference Value Report: Living Wage Report for Rural Peru
Abstract
The Anker Living Wage Reference Value for 2020 for rural Peru is PEN 1,455 per month (USD 372)2 with a confidence interval around it from PEN 1,325 to PEN 1,597. This is the wage required for rural workers to be able to afford a basic but decent living standard in a typical rural area of Peru. It is comprised of a net living wage (i.e. take-home pay) of PEN 1,266 (USD 372) per month plus PEN 189 (USD 56) which would need to be paid by law in pension contribution and income tax on this living wage
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