A Cuban woman living abroad recently took to TikTok to reveal her astonishment at the skyrocketing cost of living in Cuba, where the dollar now exchanges for 500 Cuban pesos (CUP). Despite this seemingly high rate, she emphasized that the money "doesn't go far" due to the exorbitant prices on the island.
After a sudden trip back to Cuba, the TikTok user, Leticia Castro, shared in a video the profound impact the prices had on her, particularly those of fuel and food, as well as the worsening hygiene conditions in her hometown, Cárdenas.
"As of today, the dollar in Cuba stands at 500 Cuban pesos, but once you start purchasing necessities, that amount of money quickly becomes worthless," she remarked.
According to her account, a liter of gasoline costs 3,000 CUP in Cárdenas, which is roughly equivalent to six U.S. dollars based on the informal exchange rate she mentioned.
Castro explained that a trip from Cárdenas to Havana could require at least 20 liters of fuel, resulting in a minimum expenditure of 60 dollars just for gasoline. If one needs to move around the city or travel to Varadero, the costs could easily double.
"When you can find it, you have to pay that price," she noted, referring to the fuel shortages.
Regarding food, she confirmed that while products are available, they come with hefty price tags: a cone of peanuts costs 50 CUP, and a small dessert is priced at 450 CUP.
The TikToker stressed that anyone planning a trip to Cuba should bring ample funds because, even with the dollar's high value on the informal market, the cost of basic goods rapidly depletes any budget.
Another aspect that struck her was the accumulation of garbage in her city.
"The amount of filth is horrifying," she expressed, linking this situation to the spread of mosquito-borne diseases like dengue and chikungunya.
Her account joins a chorus of complaints on social media about the deteriorating public services, rampant inflation, and soaring fuel prices on the island, amidst a severe economic crisis impacting the Cuban people.
Castro hinted that she plans to release more videos detailing her recent experiences in Cuba.
Understanding the Economic Crisis in Cuba
Why is the cost of living so high in Cuba?
The high cost of living in Cuba is attributed to the island's ongoing economic crisis, marked by rampant inflation, fuel shortages, and the devaluation of the Cuban peso, making basic goods unaffordable for many.
What are the main challenges faced by Cubans today?
Cubans face numerous challenges, including severe inflation, a lack of basic necessities, deteriorating public services, and a shortage of fuel, all contributing to a declining quality of life.
How does the high exchange rate impact daily life in Cuba?
While the high exchange rate might suggest increased purchasing power, the reality is that rampant inflation erodes the value of the Cuban peso, making it difficult for residents to meet their daily needs.