Report: Peru’s wealthiest spend 24 times more on education than poorest sector

Peru’s wealthiest households spend on average about 24 times more on education than families in the lowest socio-economic level, according to a survey of more than 1,000 people in metropolitan Lima by polling firm Ipsos Apoyo.

Education expenses among the wealthiest Peruvians – socio-economic level A – totals 946 soles ($339) per month, compared to 44 soles spent by the poorest sector – socio-economic level E.

“We should note that the poorest families understand that spending on education is an investment, because now they spend 12.7 percent of their earnings on [education],” daily El Comercio reported economist Eduardo Morón as saying.

In terms of income, the average household income for those in socio-economic level A is 10,726 soles, 14 times higher than the income of the lowest level which brings in 734 soles.

In socio-economic level B and level C, the average household incomes are 2,986 soles and 1,488 soles per month, respectively.

“The difference is still big between both extremes, but it is being reduced,” said Morón.

The wealthiest households spend 19 percent of their monthly income on food and 14.6 percent on housing, while the poorest households spend 70.1 percent and 22.7 percent of their income on food and housing, respectively.

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