A Cuban doctor residing on the island shared a stark video on Facebook that vividly captures the collapse of purchasing power in Cuba. With $100—about 65,000 pesos at the informal exchange rate—she ventured to the market to stock her fridge but ended up spending 36,000 pesos on essential groceries, which she admitted wouldn't last her the entire month.
"This is what $100 looks like in Cuba today. Can you fill a fridge or does it all vanish in a single shopping trip?" questioned the doctor, known on social media as JAViart de CUBA, at the beginning of her video, as she took viewers through her real-time journey in the informal market.
Her starting point was an almost empty fridge—with only fish, water, and some vegetables—and she meticulously logged each purchase: two cartons of eggs at 2,500 pesos each (totaling 5,000 pesos), four pounds of cheese at 550 pesos per pound (2,200 pesos), an 11-pound package of chicken for 6,800 pesos, four pounds of pork loin for 7,000 pesos, and seven pounds of boneless pork for 10,800 pesos, along with various root vegetables, herbs, and greens.
"In total, I'm spending 36,000 pesos, which is around $55, and I'm sure this won't last me the whole month," she concluded.
The Worsening Economic Situation
This testimony reflects a progressively worsening situation. The dollar in Cuba's informal market closed this Thursday at approximately 673 pesos, compared to 435 pesos back in December 2025, marking a depreciation of the Cuban peso by nearly 55% over eight months.
This freefall of the national currency severely undermines state salaries. Since July 2026, the regime set the minimum wage at 3,210 pesos per month, a sum equivalent to less than five dollars at the informal exchange rate. The average official salary of 6,930 pesos barely amounts to just over ten dollars.
Independent economists estimate that fulfilling the basic needs of an individual costs around 96,060 pesos per month—approximately 14 times the official median salary. Of this, more than 70,000 pesos would go solely towards food.
Escalating Inflation and Government Policies
According to the National Office of Statistics and Information (ONEI), official year-over-year inflation reached 18.27% in June 2026, but independent estimates place it closer to 70% annually when including the informal market, where the majority of the population relies on for supplies.
The regime's policies have further fueled price hikes. In July, they lifted the cap on retail rice prices, in place since March 2025, and had previously removed caps on basic imported goods through Resolution 150/2026.
Videos documenting Cuban shopping experiences have proliferated on social media, serving as evidence of the deteriorating situation. An earlier clip showed that with the monthly minimum wage of 3,210 pesos, one could only afford about five bags of rice in the informal market.
In July, journalist Yoani Sánchez described that "each market visit" has become an exercise in math to figure out what can be purchased with current prices, a phrase that encapsulates the daily angst of millions of Cubans caught between paltry wages and an inflation that the government itself can no longer hide.
Understanding Cuba's Economic Hardship
How has the Cuban peso depreciated against the dollar recently?
Over the past eight months, the Cuban peso has depreciated by nearly 55% against the dollar in the informal market, with the dollar reaching approximately 673 pesos compared to 435 pesos in December 2025.
What is the current minimum wage in Cuba, and how does it compare to the cost of living?
The minimum wage in Cuba is set at 3,210 pesos per month, which is less than five dollars at the informal exchange rate. Independent economists estimate that basic living costs amount to around 96,060 pesos monthly, highlighting the vast disparity between wages and living expenses.