The President’s Directive Javier Milei is “give priority to containing inflation”pointed to Ambit a high fountain of the Casa Rosada. In the last few hours, sources from the unions denounced that the Ministry of Labor is delaying the approval of salary agreements already closed between unions and companies because the Minister of Economy, Luis Caputo““gave the instruction not to validate salary increases greater than 14% in March and 9% in April.”
In the official leadership they point out that “the issue is not so linear” and that the question of salary increases “is complex.” However, they recognize the concern, due to what they consider “excessive” requests for adjustments in remuneration, at a time when “Everyone has to pitch in.”
In this regard, they give as an example unions such as gastronomic restaurants that are requesting increases of 45%. Also in the official sights are the truckers who agreed with the business entities an increase of 25% for the current month and another 20% for April. The Moyano union has already anticipated that there will be conflicts if these increases are not paid on time.
Another of those observed is the guild of building managers, who achieved a 45% adjustment since February. “With this increase, people will not be able to pay expenses,” they maintain in the Government.
Inflation: official efforts to slow the CPI
From the Treasury Palace they point out that the official leadership is making efforts to achieve a quick slowing inflation. In this sense, the decision to open food imports is interpreted, at a time when, according to the official evaluation, companies operating in the local market They excessively expanded their margins.
Although inflation slowed in February -13.2% compared to 20.6% in January-, analysts agree that March is a complex month, among other reasons due to the start of classes, the change of season, from which the index will probably reach double digits again.
Primary fiscal and financial balance in February
They also point out that, as the president said, “zero deficit is not negotiated” and in this regard They anticipate that in February both the primary and the financial imbalance were once again closed.
But, to maintain this balance, the Government contemplates new rate increases for the coming months, at a time when sectors such as electricity suffer from the scarcity of resources. About, Transener – a company dedicated to the transportation of electrical energy – warned last Wednesday about the effects of late payments by Cammesa in the wholesale electricity market.
However, this new round of tariff adjustments will impact inflation againmaking difficult the official objective of achieving a sustained reduction in rates.
The Government is concerned about the situation of the middle and low income sectors and, from this perspective, official sources told this medium that New measures are being developed to assist these segments of the population. However, they consider that the main way to defend income, particularly of the most vulnerable, is through a strong reduction in inflation.
Meanwhile, in the financial market there is speculation that, given this context, It is unlikely that the government will modify its 2% monthly adjustment policy for the official exchange rate in the short term.. And this is reflected in dollar futures, which have tended to move closer to the official guideline.
Source: Ambito
