The former candidate for head of the Government of the city of Buenos Aires for La Libertad Avanza, Ramiro Marraadded two publications, highlighting the ”effort” of the Government and celebrating the recent data.
”#TREMENDOUS June inflation was 4.6% and was below private estimates. This is a very positive sign for all Argentines and the markets.”, Marra stressed.
In addition, the legislator assured that “all the effort we are making will be worth it, and that ”eliminating inflation is a priority for the government.”
In his other post, he uploaded a graph depicting the consumer price index, where he highlighted that ”Inflation in food and beverages was only 3%.” “This is very important, since it is the sector that most affects the poorest people. Clearly, what is driving the index up is the increase in electricity rates in June,” he concluded.
On the other hand, the national deputy and former governor of the province of Buenos Aires, Maria Eugenia Vidalassured that the Government is ”on the right track”.
”I am 50 years old and I have accumulated 2,000,000,000,000,000% (two thousand billion) of inflation in my life. The number speaks for itself. It is not an easy task to eradicate it and it is important that we know that, like everything that costs in life, the path is not direct”, he described.
In contrast, the national deputy and former presidential candidate for the Left Front, Nicolas del Cañowas critical of the figure: “Driven by rate increases, rent increases and other items, this month’s CPI shows an increase compared to the previous month. Milei’s plan to eliminate inflation in one fell swoop with a chainsaw and a blender against the people has not been fulfilled. What it is achieving is to plunge us into a brutal recession with rising unemployment and a brutal fall in consumption and economic activity.”
Inflation in June was 4.6%, according to INDEC
After the strong price slowdown that measured the INDEC Last month, the data of June inflation rose to 4.6% and Thus, in the first half of the year, it accumulated a variation of almost 80%. You upload it in the Electricity and gas rates and housing rental rates were the ones that determined the acceleration of prices after 6 months of losses.
At the category level, Regulated (+8.1%) led the increasefollowed by Seasonal (+4.4%) and Core CPI (+3.7%). Thus, the division with the highest increase in the month was Housing, water, electricity, gas and other fuels (14.3%), They were followed by Restaurants and hotels (+6.3%) and Education (+5.7%) due to increases in all levels of education.
The year-on-year variation was 271.5% and, in this case, it slowed down for the third consecutive month, after the peak of 289.4% in April. Meanwhile, in the first half of the year Inflation accumulated a variation of 79.8%. As for the monthly comparison, although June CPI accelerated after six months of declines After the exorbitant 25.5% increase in January due to the devaluation, The measurement is at its lowest level in 12 months after the May data.
Besides, Price dynamics were below expectations by consensus of the participating analysts in the Market Expectations Survey (REM) of the Central Bank (BCRA). In the surveys for June, The median expected inflation rate was 5.2%above the 4.6% measured by INDEC.
ATE demanded an 80% increase in a single installment to recover purchasing power, after learning of the 4.6%
Rodolfo Aguiarunion leader of the Association of State Workers (ATE)requested an 80% increase after last month’s inflation data was released: ”Inflationary pressure is not easing and continues to undermine salaries and pensions. Without calling for collective bargaining, the Government is destroying all income in the public sector.”
”The number of state employees has increased dramatically. fell below the poverty line over the last 7 months and also the level of indebtedness of their families,” Aguiar explained.
In addition, this Friday the new values of the basic family basket were announced, indicating that $873,169 is needed to avoid being poor and $393,319 to avoid falling into destitution.
From these amounts, the union reported that more than 75% of the state (national, provincial and municipal) earn wages below the poverty line: ”There is a striking increase in resignations from various public administration agents. This is a very valuable human resource, with experience and highly trained, who decides to move to the private sector or even leave the country. If there is no urgent call to negotiate salaries, a policy of emptying the State is reaffirmed. Dismantling and scrapping its assets, benefits and even employees,” added the secretary.
And he added: “After this new price evolution index became known, “ATE is demanding a permanent lump sum that will have a rapid impact on the lowest salaries on the scale and an 80% increase in a single payment. This is the only possibility of compensating for the real fall in our salaries.”
It is worth noting that during the last meeting held on July 1 – amid strong repression against workers protesting against layoffs – the Government did not present any salary offer.
“Salaries are increasingly far from the cost of the basic basket. We have to prepare ourselves to increase the protests. Members expect their unions to defend them. Doing nothing about this is being complicit in our own impoverishment,” he concluded.
In addition, Collective Labor Agreement 214/06, which governs the National Public Administration, is negotiated from June to May of the following year. During the 2023-2024 agreement, the loss of purchasing power was 22.4%.
Source: Ambito
