Peru remains a relatively cheap destination for many travelers, especially in terms of day-to-day basics such as food, accommodation and transport. This, of course, is relative to the cost of living -- or traveling -- in your own country.

One way of comparing two countries is to look at their respective minimum wages. It’s also a good way to better gauge what exactly is “cheap” for you as a traveler and how that relates to the average Peruvian.

Since June 1, 2012, the minimum wage in Peru is S/.750 nuevos soles per month (about US$263). Prior to the latest rise on June 1, the minimum wage (sueldo mínimo, emuneración mínima or salario mínimo) had been set at S/.675.

In comparison, the current US federal minimum wage is $7.25 per hour (effective July 24, 2009), while the minimum wage in the UK is £6.08 per hour (main rate for workers aged 21 and over). The current Peruvian minimum wage is one of the lowest in Latin America.

References:
Ministerio de Trabajo y Promoción del Empleo: Decreto Supremo No.007-2012-TR (Spanish)
United States Department of Labor: Wage and Hour Division
Directgov: The National Minimum Wage rates