Argentina's average wage falls by more than 20% due to Milei policies

Published at: 03/03/2024 08:52 PM

The average real wage in Argentina fell sharply by 21.3% between November 2023 and January of this year, as a result of the policies implemented by President Javier Milei.

According to a report by the Center for Research and Training of the Argentine Republic (CIFRA), this result represents a decrease of almost half of purchasing capacity since November 2015.

According to the analysis, the losses were greater for salaries in the public sector, at almost 25%, while for those in the private sector they were 19.3%.

Calculated in terms of food and beverages, “the reduction reaches 23.8% between November 2023 and January 2024, resulting in average values that are equivalent to less than half of what they were in November 2015,” says the Center.

In this regard, it highlights the importance of considering the loss of purchasing power of people with the lowest salaries, who spend the highest proportion on food and beverages.

Mazo News Team