The half-yearly increase in the Executive Professional Basket This is equivalent to a monthly increase of 5.4% on average, according to the UCEMA Center for Applied Economics.
Monthly inflation in the Executive Professional Basket (CPE) in June 2024 increased compared to the previous month to 5.4%. However, the year-on-year variation decreased to 263.6%. In the first half of the year, the increase in the CPE accumulated a rise of 80.2% which is equivalent to an annualized increase of 224.8%, reported UCEMA.
The cost of the CPE in dollars fell sharply by 9.1% compared to May due to the rise in the free dollar and stood at US$4,136. Compared to June 2023, the CPE in dollars increased by 40.3%. In 2023, the cost in dollars of the CPE was on average US$2,893, while in 2022 the average was US$2,849.
Executives in Argentina need $5,400,479 pesos per month
The CPE evaluates the cost of a representative consumer basket for the family group of an executive professional, resident in the metropolitan area of Greater Buenos Aires, whose monthly spending level reached $5,400,479 in the last month. The CPE survey began in March 2008 with a value of $11,787.
The transport and communications sector was once again the one that grew the most in May, with a monthly increase of 8.1% and a year-on-year increase of 307.5%. There was also a strong increase of 7.6% in the housing and basic services sector, while education rose 6.5%.
The rest of the chapters rose less than the basket average. However, There is a 5% increase in entertainment and a 4.2% increase in food and beverages.
Executive salaries: fewer increases but more frequent
According to a report by Adecco, the salaries of non-contractual workers within the executive sector will have an adjustment of 137% for this yearand it is anticipated that by 2025 estimates will be around 108%.
The work carried out by the consultancy also determined that 46% of companies, due to the current economic situation in the country, make monthly adjustments to their salary scales. That adjustment reference, in 2023, did not reach 10% among those that validated increases every 30 days.
In the same sense, 26% of companies review their salaries every 2 months, 13% every 3 months, while 15% follow the frequency of collective bargaining negotiations.
Source: Ambito
