Peru increases minimum wage to S/1,230

In Peru, the minimum wage (RMV) has increased from S/1,130 to S/1,230 as of October 1. This represents the first stage of a progressive increase intended to eventually reach S/1,300.

Labor law specialist Germán Lora Álvarez warns that the impact on employers extends beyond the direct S/100 increase. Because the RMV serves as a reference for various labor concepts, it also raises costs for family allowances, training subsidies, and night shift premiums.

Experts suggest that micro and small enterprises (mypes) will face disproportionate pressure compared to larger companies. While larger firms often have more employees earning above the minimum, the RMV has a much higher incidence on the cost structures of smaller businesses, potentially hindering formalization efforts.