March ended and the Government did not convene the Minimum, Living and Mobile Wage Council (SMVM). In February, the monthly value was set at $180,000 and at $202,800 for March.
In February, the national government updated by decree the Minimum, Vital and Mobile Wage (SMVM) and set its value at $180,000 for February and $202,800 for the month of March. However, April has already begun There is no official call for the new month.
It is worth remembering that the national government and union, social and business representatives met on February 15 with the aim of debating the new value of Minimum salarywhich in January stood at $156 thousand.
At the meeting, held within the framework of the National Council of Employment, Productivity and the Minimum, Vital and Mobile Wage (an organization that brings together representatives of workers, employers, the National State and the provinces) no agreement was reached. , hence The Government defined the increases by decree.
At that time, it was set, skipping the month of January, at $180,000 for the monthly value or $900 per hour for February and $202,800 for March or $1,014 per hour.
How much was the loss of purchasing power in the first quarter
January-February inflation was 36.6% plus an estimate of 13% for March, which would result in a price increase of 54.36% versus 30% in the first quarter. It represents a deterioration of 15.8%.
This loss is added to that of 2023 when the minimum wage had an increase of 151.8% compared to an inflation of 211.4%. It’s a 19% loss. In relation to the basic food basket, the drop exceeded 25%.
Argentina has the lowest minimum wage in dollars in the region
A report prepared by the consulting firm Focus Market indicates that Argentina is the country with the minimum salary in Dollars lowest in Latin America, with a figure that reaches US$196, and is at the lowest level in the last 20 years.
According to the consultant, “the devaluation of the peso against the dollar of 54% in the official wholesale exchange rate, the lag in monetary issuance, high uncertainty, the departure of controlled prices and the correction of rates of public services, plus the adjustment to new values of private services, are leading to an even greater loss of income for Argentines in the first stage of this Government.
Source: Ambito
