R$1100 is the minimum monthly wage for a full-time job.
I don't know how things are over there where you live Kapi, but it's quite obvious that whatever minimum wage is there, it's not what most people make on a full-time job. In Brazil, most jobs tread near the minimum wage level, for a supposed 40-hour work week (they often go well above 40 hours).
Why would you have a monthly minimum wage though? That's just weird. Especially if it's based on 40 hour weeks. In my experience anywhere from 35-40 hour weeks are all just as likely for full time workers.
I was using the hourly minimum wage, so to compare that to Brazil's (based on a 40 hour week), the RTX 3070 would be 0.9x monthly wages compared to Brazil's 10x while the PS5 would be 0.3x monthly wages compared to Brazil's 9x.
Ouch! Yep, y'all are getting screwed. Those prices are crazy high.
Because almost all of us receive paychecks once a month, as the month is the metric used by the government for companies to declare and retain work related taxes. And Brazil is ruled by taxes.
The law here allows up to 48 hours of work each week tho, before it being considered an extra work hour and the company needing to pay the worker and the government and extra for it aside from what its work class/contract says it should pay.
40 hours a week is a very common ammount but many places do 44 or more too (my past job was 46 hours a week).
If you want to have a good understanding of what it does represent, the Switch, Series X and PS5 at their normal prices would be around 2.8x, 4.2x and 4.3x the monthly mininum wage (yes the PS5 is a bit more expensive here).
Right now you can double those Series X and PS5 amounts tho. So if someone wants a PS5 right now and receives the minimum wage they would need to save their money for 9 months without buying food or paying any bills/rent or taxes to have enough to get one.