The Nation’s Labor Minister, Raquel “Kelly” Olmos, said this Monday that although inflation started the year at a rate of 6% in January, the government is meeting its target, and he reiterated it 30% is the benchmark for wage increases which are currently traded on a parity basis.
“30% is the inflation target and we are getting it. We had an impact on that with the January issue, but doesn’t mean we can’t reach the 30-point inflation target in the first half,” said the official in statements to El Destape Radio.
Based on this inflation target, the Ministry of Labor – and also the Ministry of the Economy – has suggested that this is the percentage increase to be negotiated in the parities that each union carries out to establish the six-monthly wage increases.
In this sense, Olmos ratified that this 30% is the reference for negotiationsbut that some sectors can get a better percentage of the income generated.
“We have always said that this goal must be taken as a reference and, in cases where the unions could do it, reach some further point of consolidation. This is closely related to the capacity of each sector,” said the minister.
THE official inflation in January was 6%, and it is estimated that in February the evolution of retail prices will suffer a similar fate. According to economists who usually anticipate their forecasts, the increase will be between 5.5% and 6.1%.
With these estimates, inflation on an annual basis will exceed 100%, after 98.8% in January – which was the highest value in 31 years -, therefore it would be well above the official forecasts of the ministry led by Sergio Massa .
Source: Clarin
