Our 6-Month Review Of Wages, Standard Of Living, Consumer Prices and Major Business Developments In The Region

In November 2021 we conducted a 6-month review of minimum wages, Cost-of-Living, Consumer Prices and the ‘Exchange-Rates to $USD’ in the region.

Belize: Consumer Prices Of Essential Goods

On April 27th. 2022 the Statistical Institute of Belize published its comparison data of ‘Essential Consumer Goods for March 2022 in comparison to March 2021.

The data shows an average increase of 5.7% for those goods selected (see list). However, items such as Vegetable oil, Tomato’s and pig-Tail had the largest increase. And fuels (LPG, Diesel, Regular & Premium gasoline had an increase of 27% – 30%. compared to March 2021.

In CARICOM States (Caribbean)

And, In this 6-month report of April 2022, the most striking developments has been in Guyana, which discovered massive amounts of oil, and an economy that, according to the International Monetary Fund (IMF) is on a 47% growth-rate-trajectory.

But the rate of exchange is still as it was 5 years ago; the Guyanese Dollar is still wort just 1/2penny equivalent US-dollars, Its minimum wage is still as it was 4 years ago at $202 Guyanese dollars or $1usd / per hour.

Regional Minimum Wage – April 2022(Caribbean & Central America)

CountryLocal $/hr$USd/hrNotes
Bahamas$5.25Bd=$5.25usd/hrJan. 2017
Barbados $8.50Bd
$7.50Bd Agri
=$3.75US Agri
April 2022
Belize $3.30Bz=$1.65US/hrApril 2022
GuyanaG$202/hr.=$1.00usd/hrApril 2022
Haiti$615-$770 HTG <$7usd/Day April 2022
Jamaica$9k-10k J$/wk=$58-$65usd/wk April .2022
TrinidadTT$17.50=$2.60usd/hrApril 2022
Guatemala10.60-11.60/hr=$1.50usd/hr2021 ^see note
Honduras$30-50 Lempira=$1.60us/hr avg.April 2022
Mexico$141mx-peso=$7.10usd/hr2021 *see note
El Salvador$1.50usd/hr2021 *see note
NOTE: Not all countries have hourly minimum wage, some have daily minimum wage, and some countries have different minimum wages that are based on the job sector. Additionally, Similar to the United States, where the Federal minimum wage is $7.25usd/hr. – Some border cities in northern states of Mexico have a higher minimum wage than some southern states in Mexico.

Currency Exchange Rate In The Region (April 2022)

Jan. 29th. 2022
Consumer Prices For Food and Essential Fuels Went-Up-A-Lot, Since January 2021
Nov. 26th. 2021
Minimum Wage Around The Region: The Caribbean & Central America