The total salary index reached in 2021 a 53.4% increasea figure that placed wages above the price increase registered in the same period, which was 50.9%, reported the National Institute of Statistics and Censuses (Indec).
After the indicator was announced, official sources stressed that in this way the premise that the national government had imposed on itself was achieved to ensure that wages begin to beat inflation to recover purchasing power and contribute to boosting consumption and activity. economy in general, to recover the contraction of previous years.
This Thursday it was also highlighted that the increases granted during 2021 in terms of retirement and pensions they reached 52.7% and were above the inflation of the year, which allowed to start a process of recomposition of what was lost due to assets during 2018 and 2019.
According to the Indec report, the Total Salary Index showed a growth of 53.4% in the last 12 monthsas a result of a rise of 56.5% in the registered total and 40.6% in the unregistered private sector.
In particular, the index of total registered wages accumulated in the last 12 months an increase of 56.5%from an increase in 55.3% in the registered private sector and an increase in 58.6% in the public sector.
Meanwhile, the Total Salary Index verified an increase of 2.6% in December 2021 compared to the previous month, as a consequence of a 1.9% rise in registered salaries and an increase in non-registered private sector salaries of 5.8%.
The Salary Index of the total registered showed a monthly increase of 1.9% in December 2021, as a consequence of a 1.4% increase in the registered private sector and a 2.7% increase in the public sector.
Thus, in year-on-year terms, the Total Salary Index, with an increase of 53.4%, ended the year above the increase in prices registered in the same period, which was 50.9%.
— INDEC Argentina (@INDECArgentina) February 10, 2022
In real terms, it moved into positive territory in November, 0.7% ia and in December it reached 1.6%, which ratified the improvement that had not been registered since March 18, always in real terms.
This positive performance is based on growth in the registered Private sector (+2.9% yoy) and in the Public sector (5.1% yoy), and a decrease in the fall of the non-registered Private sector (-6.9% yoy). December).
In 2020, the total registered salary index accumulated an increase of 31.6%, as
consequence of the 34.4% increase in the registered private sector and an increase of 26.8% in the public sector, while inflation was 36.1%, also measured by the Indec.
President Alberto Fernández, in his last television interview last week, He declared himself “aware” that people have to “recover real income” and that the government must “work to make that happen.”
In the same sense, Fernández once again expressed himself in favor of an agreement on prices and salaries, but warned that he wants salaries to “beat inflation” not only year after year, but “they have to recover 20 points (lost) since the time of Mauricio Macri”.
In the same sense, the Minister of Economy Martín Guzmán recently raised in a meeting with businessmen and union leaders the need to achieve this agreement on prices and wages, as a condition to lower the inflationary expectations for this year that start with a “floor” of the fifty%.
Throughout the current administration of the Government, the premise that wages accompany the inflationary process and can even “beat it” was reiterated.