Argentina accelerated minimum wage increase

Argentina accelerated minimum wage increase

The raise in June is a 16.95 percent increase over the current wage of 38,940 pesos, and it comes as Argentina’s purchasing power is being eroded by high inflation. The Consumer Price Index (CPI) in Argentina is estimated to have increased 5.9% in April, owing to price increases in the ‘Food and Beverage’ and ‘Clothing’ categories.

The General Work Federation (CGT) said in a statement that “the (minimum wage) that were set for August and December, respectively, have been brought ahead to defend their purchasing power.”

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