This scenario derives from the previous salary agreement between the Metallurgical Workers Union (UOM) and the business chambers. In this pact, they established new salary scales for the July-September and October-December quartersthe latter linked to the evolution of Consumer Price Index (CPI).
In the previous agreement, the UOM defined a staggered and cumulative increase for the quarter of July August Septemberachieving an effective increase in 42.57%. In addition, a “provisional” increase was agreed 21% for the next quarter: 7% in October, 7% in November and 7% in December.
The text of the agreement establishes that these increases They are estimates and will be adjusted according to the CPI. If the price increase exceeds the proposed percentages, the difference is added to the following month’s payment; otherwise, is subtracted from the pending increase.
Metallurgists: what is the increase like?
The agreed procedure for the adjustment involves applying the provisional increase in the 7% to basic salaries and then adjust according to the CPI variation of the month prior to the validity of the increase.
However, in the example of the record, a different procedure is shown when taking the October CPI to apply it to the November scale. According to INDEC, the CPI for October was 8.3%.
Therefore, The publication of the updated scales by the UOM or the chambers is expected. Since a new scale was not published last month, it is likely that the criterion in the example of the minutes will apply, that is, an increase of 8.3% instead of the 7.5% provisionally established.
The difference between both criteria is significant, since inflation was 12.7% in September and 8.3% in Octobermarking a difference of 4.4 percentage points.
Thus, uncertainty persists about what criterion will be implemented, but based on the example of the minutes, for this particular case, The 8.3% adjustment could be applied in November.
Source: Ambito
