“When comparing December 2017 and March 2022 we see that average real wages fell by twenty-one%”, said David Miazzo, chief economist at FADA, adding that inflation affects all types of products, for example clothing, where the same garments for $1,000 in 2017 today cost $6,869. In summary, for economists with high inflation “we lost 7 homemade pizzas, 79 kilos of flour, almost 6 kilos of cheese and 33 packages of olives. We ran out of 180 glasses of drink to share. Inflation affects our ties”explains the report.
“The Changometer lets us see that Inflation affects all types of products: Not only did the ingredients for dinner go up, the telephone service they used to organize themselves and the rents for the buildings also went up. The same thing happens with school supplies, with social work, with everything… Because the problem is not one sector or another, the problem is that our weight is worth less and less”Miazzo explains.
In this sense, he explained that workers in the registered private sector lost an average purchasing power of 17% and the public sector, 18%. The most affected were the unregistered, with a 3. 4%. With an inflation of 6% in April, the inflation of the last 12 months is 58% and at least 65% is expected for all of 2022. “This number worries us, not only because it is high, but also because this point was reached with an exchange rate that comes after inflation,” they detailed from FADA.
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Source: Ambito
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