Argentina’s minimum wage will be adjusted by 32% as a result of the acceleration of inflation in the country, which reached 124.4% in the last 12 months.
The adjustment, made for the third time this year alone, was finalized during a meeting of the Wages Council, which brings together representatives of the Argentine government, chambers of commerce and unions, this Wednesday (27).
According to official sources, the measure, approved “by a large majority”, will be applied in three installments (October, November and December) and, at the end of the applications, the minimum wage will reach 156 thousand pesos (R$ 2,240).
The new minimum wage in December will still be below the current value of the basic food and services basket for a family in August, which was 284,686 pesos (R$4,088).
During the meeting, the Wages Council also unanimously increased unemployment insurance, which went from 50% of the net value of the worker’s last six salaries to 75% of that value.
The new adjustment comes at a time of worsening economic crisis in Argentina. According to a report released by the country’s National Institute of Statistics and Census (Indec), poverty in the country already affects 40.1% of the population, the highest rate since the first half of 2021.
In total, according to Indec parameters, 11.8 million Argentines are in this condition. (With information from the EFE Agency)
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