The salary data published by the National Institute of Statistics and Censuses (INDEC).
The wage index rose 7.5% in July 2024 compared to the previous month and 206.2% year-on-year, as reported by the National Institute of Statistics and Censuses (INDEC). The president Javier Mileimade a publication on their social networks highlighting the fact.
”REAL WAGE IS UP AGAIN”he wrote, citing the INDEC post on the social network X (formerly Twitter). Although average wages rose above inflation in July, and show signs of recovery, they continue to be below the consumer price index for the year.
Average salaries increased 7.5% thanks to the improvement of 6.3% in the private sector; a 6.7% in the public and a 15.1% in the unregistered private. Each sector accumulates, in the first seven months of the year, an increase of 105.8%, 84.9% and 95.4%, respectively. In this way, the only sector that shows losses against the consumer price index (CPI) is he public.
However, in the last 12 months, all sectors continue between 27.9 and 93 percentage points below the CPI. Those who lose the most are statewhich increased 170% year-on-year against an inflation of 263% in the year. Private ones increased 235.1% and unregistered ones increased 178.9%with a loss of 27.9 and 84.1 pp, respectively.
The message from the Ministry of Economy
In addition to Milei’s publication, different economic and political actors reacted to the numbers reported by the public body. own Ministry of Economy accompanied with a publication: ”FOURTH CONSECUTIVE MONTH OF WAGE RECOVERY In July 2024, the salary index rose 7.5% compared to June, with inflation for the month of 4%.”
And they added: ”The fiscal and monetary order, through the reduction in inflation and the improvement in expectations, is the basis of salary recovery. In this way, four months in a row have been recorded with a nominal increase in salaries above inflation.”
Source: Ambito
