How much has the cost of the basic family basket increased?

In 2022, Peru’s inflation hit its highest level in 26 years, suggesting an increase in the cost of living for Peruvians.

But how much did it cost basic family basket including basic services, groceries and food?

A study by Apoyo Consultoría has calculated that at the end of 2022, the basic basket for four people has increased to more than SGD 1,600.

“In 2022, it would increase by almost 8% compared to 2021. According to our estimates, in 2021 for family out of four entrants, the value of the base basket would be SGD 1,512 and estimated for 2022 would be close to SGD 1,631,” explained Donita Rodriguez, Head of Macro Analysis at RPP.

Rodriguez notes that in 2021, on average, urban households spent about 520 sols monthly on food inside and outside the home. That is, families spent about 35% only on food.

But, it was noted earlier that in low-income houses food expenses they accounted for just over half of his monthly budget.

Inflation remains high in 2023 due to the pressure the economy is facing. economy.

“Looking at the information as of February, headline inflation was around 8.6%, but it is the food and beverage component that has still risen above that 8% over the past 12 months. Perishable food inflation would be around 22%. %, this is due to the conflict and the waves of violence that have affected the supply chains, and we could resume inflationary pressure due to some restrictions due to adverse weather conditions,” explained the expert Apoyo Consultoría.

It is expected that this year the cost basic family basket for a family of four, that’s around SGD 1,670, which is higher than what we’ve already seen in 2022.