The Argentine government advanced increases for the monthly minimum wage to 45,540 pesos (about $389.5) from next June and to 47,850 pesos from August, the economy ministry said on Tuesday.
The next increase represents 16.95% compared to the current wage floor of 38,940 pesos, at a time when strong inflationary pressure hits the purchasing power of Argentines.
The Consumer Price Index (CPI) Argentina would have advanced 5.9% in the fourth month of 2022, largely due to the rise that the “Food and Beverages” and “Clothing” segments would have recorded, according to the median of a Reuters poll.
“The increases in the SMVM (minimum vital and mobile salary) that were agreed for August and December, respectively, are being brought forward in order to safeguard their purchasing power,” the General Confederation of Labor ─CGT─ said in a statement.
The minimum and maximum amounts of the unemployment benefit are as follows: 12,650 and 21,083 pesos, respectively, as of June and 13,292 and 22,153 pesos as of next August, the ministry said.
rrg