Africa-Press – Cape verde. The Essential Consumption Index (ECI) for December, calculated by the Association for the Defense of the Consumer – ADECO determined that it currently takes 21,008$00 for a citizen to live in São Vicente. This translates into an increase of 1.7% compared to the value recorded in November. The cost of a basket of minimum consumer goods rose to 21,008$00 this December, the maximum value registered by the Essential Consumption Index – ICE, until now.
In practice, according to ADECO, the ICE increased by 1.7%. Which means that of the 20,647$00 recorded in November, a healthy adult residing in São Vicente will need another 361$ for their basic needs of food, electricity, water, cooking gas, housing and communication. Increase in the minimum wage deficit
This, according to ADECO, “increased” even more the Private Sector Minimum Wage Deficit, which is now -38.1%, and the Public Sector Minimum Wage Deficit to –28.8%.
A deficit, as the association explains, that not even the salary increase planned for 2023 will be able to compensate in the face of the increase in the cost of living.
This is due to the fact that the national minimum wage, worth 13,000 escudos, which will be increased to 14,000 in 2023, is situated 38.1% below the minimum survival threshold of a healthy individual.
More people in difficulties Thus, the value of 21,008$00, from the December ICE, reveals, according to ADECO, that there are more people with “immense difficulties”. People who, as explained by ADECO, although they work and have an income, this income is, however, “insufficient” for the consumption of what is “essential” for an individual, let alone a family. “It is urgent for ICE to be considered when defining wages in the country, under penalty of undervaluing work and creating situations of deficits in consumption that can lead to food insecurity, with all its consequences”, appeal to ADECO. In view of the situation and the increase in the ICE, the association draws the attention of consumers, advising them to have greater control of their expenses in this festive season.
Remember that the Essential Consumption Index is a tool developed by ADECO to explain in a “simple” way the impact of the cost of an aggregate of essential goods and services on consumers’ lives.
For More News And Analysis About Cape verde Follow Africa-Press
