Staple foods rise 17-20 points above wages and pensions

Ismael Bermudez

05/19/2021 2:05 PM

• Clarín.com

• Economy

Updated 05/19/2021 2:05 PM

In just one year, the prices of

basic foods are between 17 and 20 points ahead of formal wages and pensions

and pensions.

And even more so with unregistered salaries, which in recent months have come with

lower increases.

In the last 12 months, to April,

the basic food basket increased between 49.1%

in the Metropolitan Region and 51.8% in Tucumán, according to official data from different regions of the country.

Average inflation was 46.3%, while

formal salaries and pensions, as of March, rose in one year between 29.4 and 33.3%

, according to official records.

These figures show that formal wages and retirements and pensions

fell by 10%

compared to inflation and between 12/13% compared to the year-on-year increase in basic foods.

In April and May, those who earn the minimum retirement ($ 20,571) would cut just a part of that loss by collecting the plus of the $ 1,500.

Even so, in 13 and 14 months they will accumulate a rise of 38.8%, below the evolution of the prices of

the basic food basket, which will be around 55%.

In June, the 12.12% increase in retirements would not significantly alter this scenario for those earning the minimum retirement because the increase absorbs the $ 1,500 bonuses.

In the case of salaries, it will depend on the increases that are being agreed to in the joint ventures,

with increases in quotas of the order of 30/35% per year,

which will surely force to execute the

review clauses

agreed in the agreements because the inflation projections exceed those percentages.

A year ago, the average formal net salary was 10% higher than the value of the basic family poverty basket.

Last month, the poverty basket closed at $ 62,957.54.

Meanwhile, in March the average salary registered, after the retirement and health discounts, was $ 62,921.58.

Some 36 pesos below the current value of the typical family basket.

The loss of income in relation to food prices

is widened for the lowest wages

that, in relation to the average, increased in smaller percentages.

The lower income sectors allocate 45.2% of their expenses to the purchase of food.

At the other end, the richest 20%, 26.6%.

That is why the rise in 

food prices hits those with low incomes the hardest.

This is more strongly repeated in the basic poverty basket.

In Capital and GBA, food weighs 33% compared to 23% in the Inflation Index.

In the North the difference is higher.

NE

Look also

Mass consumption fell 9.1% in April due to the collapse in neighborhood shops

The price of bread will rise up to 13% in the next few days

Minimum retirement: the effective increase will be just $ 1,000