The monthly minimum wage in Cuba was equivalent, on a Wednesday in September, to around 4.28 dollars on the informal market, where the rate reached 750 Cuban pesos per unit of the US currency. The loss of value of the peso left the income of 3,210 CUP far from the cost of food, medicine, transportation, and other goods necessary for a family.
The Cuban economy accumulated a gross domestic product contraction of more than 15% between 2020 and 2025. During the first half of 2026, the deficit reached 35,016 million CUP (USD 47 million), compared with 7,700 million (USD 10.3 million) in the same period of 2025, according to the Center for the Study of the Cuban Economy at the University of Havana.
Inflation reached 12.24% in the first six months of 2026, compared with 8.26% a year earlier, while the year-over-year rate reached 18.27%. The study also indicated that the informal market concentrates most currency exchange operations and that the exchange rate accumulated a depreciation of 39.1% during that half-year.
The dollar rose 10 pesos in a single day and stood at 750 Cuban pesos, while the euro traded at 850 pesos. The representative rate published by El Toque recorded seven consecutive days of depreciation of the national currency against the dollar.
The publication noted: "So far in September, the rate has climbed 80 pesos compared with the close of August, when it stood at 675 CUP per dollar…
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The monthly minimum wage in Cuba fell to an equivalent of 4.28 dollars on the informal market. (Illustrative image Infobae)The monthly minimum wage in Cuba was equivalent on a Wednesday in September to around 4.28 dollars on the informal market, where the exchange rate reached 750 Cuban pesos per unit of the US currency. The loss of value of the peso left the income of 3,210 CUP far from the cost of food, medicines, transportation and other goods necessary for a family. The Cuban economy accumulated a contraction of the gross domestic product of more than 15% between 2020 and 2025. During the first half of 2026, the deficit reached 35,016 million CUP (USD 47 million), compared to 7,700 million (USD 10.3 million) in the same period of 2025, according to the Center for the Study of the Cuban Economy of the University of Havana. Inflation reached 12.24% in the first six months of 2026, compared to 8.26% a year earlier, while the year-on-year rate reached 18.27%. The study also indicated that the informal market concentrates most of the currency exchange operations and that the exchange rate accumulated a depreciation of 39.1% during that semester. The dollar rose 10 pesos in a single day and stood at 750 Cuban pesos, while the euro traded at 850 pesos. The representative rate published by El Toque recorded seven consecutive days of depreciation of the national currency against the dollar. The comprehensive basic basket requires a budget equivalent to almost 30 minimum wages. The publication noted: "So far in September, the rate has climbed 80 pesos compared to the close of August, when it stood at 675 CUP per dollar, which represents a deterioration of 10.4% in just one month." The Ministry of Labor and Social Security raised the minimum wage in July from 2,100 to 3,210 pesos through Resolution 14/2026, effective for payments made from August onward. The nominal increase was close to 53%, but the advance of the dollar quickly reduced its reach on the informal market. At the current value of the currency, those 3,210 CUP also represent 3.78 euros per month. The rise in prices, the economic paralysis and the shortage of goods and services prevent the wage increase from translating into an equivalent improvement in the purchasing power of those who depend on that income. The private sector already contributes 29% of tax revenues and helps alleviate shortages, although its prices remain out of reach for the majority of the population. Meanwhile, Havana attributes the island's chronic economic crisis to the United States embargo. The fiscal deficit in the first half of 2026 reached 35,016 million Cuban pesos. REUTERS/Ricardo ArduengoThe comprehensive basic basket to cover the real needs of one person amounts to 96,060 CUP ($128.94 USD) per month, according to an estimate by the Cuba Capacity Building Project. That figure is equivalent to almost 30 monthly minimum wages of 3,210 CUP ($4.31 USD). The calculation includes 70,070 CUP ($94.05 USD) for food, 11,450 CUP ($15.37 USD) for personal hygiene, 5,800 CUP ($7.79 USD) for clothing and footwear, 4,740 CUP ($6.36 USD) for household cleaning, 2,000 CUP ($2.68 USD) for medicines and another 2,000 CUP ($2.68 USD) for transportation. Even a family survival menu, limited to rice, beans, a small amount of chicken or ground meat, oil and root vegetables, rarely falls below 22,600 CUP per month.