It is worth remembering that In March, inflation accelerated to 6.7%, its highest monthly mark since 2002. At the same time, in the first quarter it accumulated 16.1%, a record since 1991.
The Minister of Economy, Martin Guzmansaid in his last public statements that inflation “must be attacked firmly” and with a “consistent and credible economic program.”
In this sense, the official maintains that the government’s macroeconomic policy must have a “comprehensive approach”, which includes “an external block, a fiscal block, a monetary block and a complementarity that are price and income policies.”
The acceleration in prices stopped the slight rise that wages had had in 2021. The INDEC showed this week that real wages fell about 1% in the first quarter.
In the same sense, Luis Campos, coordinator of the Social Law Observatory of the Autonomous CTA, reflected that in the same period the Minimum, Vital and Mobile Salary lost everything that it had recovered last year, and returned to the lowest levels. low since 2004.
Faced with this situation, Guzmán affirmed that “it is obvious” that the increase in the minimum wage has to be brought forward, which traditionally takes place in the second half of the year. “We did the same with boosting income for the informal sectors, reacting immediately to what was the inflationary shock caused by the war in Ukraine,” he added.
According to the consulting firm EcoGo, in May inflation would be 5%, driven by rises in fuel, private schools in the Province of Buenos Aires, prepaid, expenses and telecommunications services.
After the surprising figure for March, REM participants raised their forecast for accumulated inflation in 2022, from 59.2% to 65.1%.
Source: Ambito
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