Paraguay maintains low cost of living relative to Latin American neighbors

Recent economic data indicates that Paraguay maintains one of the lowest costs of living in Latin America. According to a study by the financial platform Wise, the estimated monthly expenditure for an individual in Paraguay is US$935. This places the country in the lower tier of regional costs, surpassed only by Bolivia and Venezuela, while significantly lower than nations like Panama and Costa Rica.

Complementary data from the Central Bank of Paraguay regarding border prices shows that consumer goods are notably cheaper in neighboring countries. In Foz do Iguaçu, Brazil, a general basket of goods is 18.7% cheaper than in Paraguay, with extreme differences in soybean oil (-44.9%) and rice (-40.3%). In Clorinda, Argentina, goods are 11.4% cheaper, with significant savings found in flour (-36.3%) and oil (-34.1%). While most categories are cheaper abroad, certain items like alcoholic beverages in Argentina remain more expensive than in Paraguay.