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Peru’s cost of living has quadrupled in the last year: 24% suffer from assuming high prices

U.S.A.Peru's cost of living has quadrupled in the last...

The cost of living is the problem that worries Peruvians the most

The political uncertainty that our country is currently facing and the continued rise in the dollar have added to the concerns of Peruvians, who have seen the cost of living quadruple in the past year. Only in October 2020, 6% indicated that the cost of living was their biggest difficulty, now that figure is four times higherAccording to an Ipsos survey for El Comercio.

Figures reported by published surveys, 24% of the population say that the problem that affects them the most is assuming high prices and covering their cost of living. In addition, the dollar appreciation has hit the domestic basket hard, owing to the rise in prices of staple food items such as chicken, oil, vegetables, etc.

The survey suggests that Lack of work and economic recovery (18%), crime and lack of security (17%), corruption (10%), crisis and political polarization (4%), inadequate education (4%) and abuse by officials (4%) )

Experts point out that this situation is going to take a toll on the government of Pedro Castillo, as it will have to take responsibility for the demands of the population for work, health and income that Peruvians currently do not have. A few weeks ago, an Ipsos poll indicated that the president went from 42% to 35% for approval and his disapproval increased to 57% in the same period.

The present government will not only have to face high prices, but also go back 10 years in fighting poverty due to COVID-19.

main problems

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The Ipsos survey also indicates that the main problems in the country today are: corruption (47%), crime and lack of security (44%), lack of work and non-activation (30%), cost of living and high prices ( 29%), abuse by officials (22%), inadequate education (19%), and public health and COVID-19 pandemic (16%).

apart from this Poverty (13%), gender violence and homicide (11%), inequality and the gap between rich and poor (8%), among others.

Regarding health, in April 2020, at the start of the coronavirus pandemic and mandatory quarantine, Peruvians indicated that health was the most affected citizen (35%) and currently, only 2% indicates that you have difficulties in that area .

According to Ipsos, the inflation rate in the country’s ten major cities has been recorded at an annual average of 9.4% in October.

Ivan Portocarrero, head of sector analysis at Apoyo Consultoria, argues that the real income of the population, especially in the informal sector, has not recovered to its pre-pandemic levels, thus affecting the cost of living.

According to INEI, The informal employment rate increased from 72.8% in September 2019 to 78.2% in September 2021. Informal employment in the urban sector increased by 685,900 people, compared to the third quarter of 2019, while formal employment declined by about one million.

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