From the UMET and the CCD they highlighted that the decrease in inflation coexists with a stagnation of real wages at a very low level. They notice similarities with convertibility.
Inflation for registered workers was 2.9% in Octoberwhich is why it slowed down 0.8 percentage points (pp) compared to the previous month and represented the lowest value since November 2021. Even so, the increase in prices during the last year was 202.9% for this segment of the population and in the accumulated 2024 it marked a 116.9%.
The data comes from a recent report prepared jointly by the Institute of Workers Statistics (IET) from the Metropolitan University for Education and Work (UMET) and the Center for Concertation and Development (CCD). Although year-on-year inflation continued at very high levels, the report highlighted that it was the sixth consecutive slowdown from the peak of 307.8% recorded in April.
Workers inflation 2
The price increase in the tenth month of the year was led by the divisions Education (4.5%) and Other goods and services (4%), while Food and beverages rose 3.3%. Below average were the increases in Home Equipment, Clothing and Footwear, Transportation, Health and Recreation and Culture.
Workers inflation 1
The executive director of the CCD and former Minister of Education, Nicolas Trotta, He assured that the decrease in inflation “does not seem to translate into an improvement in salaries but rather into their stagnation at historically low levels.”. “The recovery of the economy that the Government talks about only means that production and employment have stopped falling. But while financial euphoria permeates the entire official vision, real wages, the level of activity and investment remain at historically low levels,” he deepened.
In that sense, Trotta stressed that the workers are paying the adjustment since in the first half of 2024 The participation of employees in the GDP was 42.8%, 2.5 pp less than in 2023, and 10.4 points compared to the historical peak of 2015, which was 53.2%.. “Looking at this data is a way to understand the contradictions and the crack,” he said.
For his part, the IET coordinator, Fabian Amicoexplained that “inflation continues to gradually decline, supported by the exchange rate anchor and the decrease in the pace of adjustment of regulated prices (rates and private services)”, although he also stressed that This dynamic coexists with stagnant real wages “as occurred in much of the Convertibility Plan stage”.
“The Government’s attempts to stop the pace of joint labor unions and the intense job destruction of recent months seem to have considerably weakened the ability of workers to benefit from the disinflation process and to be able to obtain the restoration of lost income,” he expressed.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
