Argentina wages rise 2.8% in July to beat inflation

Wages in Argentina increased by 2.8% in July compared to June, outpacing the monthly inflation rate of 2.1%, according to data released on September 22 by official statistics agency INDEC. The monthly increase followed gains of 2.9% in June and 2.2% in May, after slowing from 3.7% in April.

During July, registered sector salaries advanced 2.5%, driven by a 3.0% rise in public sector pay and a 2.3% gain in the registered private sector. Meanwhile, unregistered private sector pay climbed 3.9%.

In the first seven months of the year, the wage index accumulated an increase of 21.8% compared to December. That year-to-date figure reflects gains of 17.0% in the registered private sector, 21.1% in the public sector, and 34.4% in the unregistered private sector.

On an annual basis, wages increased 36.2%. The registered private sector rose 29.7% year on year, the public sector gained 31.0%, and the unregistered private sector advanced 59.9%.

Within the public sector during July, national public salaries rose 3.9% month on month, 27.5% year on year, and 18.1% year to date. Provincial public salaries grew 3.2% on the month, 30.4% year on year, and 20.0% year to date.