The adjustment, whose greatest impact will be on the value of the social plans (the complementary social salary is equivalent to half the minimum salary), will have:
- a first installment of 18% in April;
- will continue with 10% in June and the same in August,
- and will culminate with 7% in December.
ANDhe increase was agreed shortly after learning that February inflation measured by INDEC stood at 4.7 percent and accumulated 52.3% in the last twelve months.
Although none of the participants of the Salary Council trusts that 45% will be enough to compensate for the rise in prices expected for this year, the reinsurance of a new call for August convinced the union representation to sign the increase at least as a sign towards the Government in its current declaimed “war against inflation”.
In fact, last year the body that sets the wage floor paid by the private sector in Argentina had a first deliberation in April that resulted in a 35% rise, but the inflationary acceleration forced a new instance months later to only set a 52 .7 percent, which was barely enough to exceed the annual cost of living index of 50.9 percent.
Until now, the paritarias have shown a rising behavior, as happened last year, with the exception that in just three months the closures of the start of 2022 were surpassed by several points. Thus, the Federation of Oil Producers was the first national organization in agreeing his salary adjustment for this year at 39 percent. Teachers followed in their national parity, which set an increase of 45.5 percent, and this Tuesday the Metallurgical Workers’ Union closed a 45 percent increase.
Source: Ambito
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