In February, salaries increased 11.5% versus 13.2% of the CPI. In the third month of the year, the average salary was $619,007.05, almost $72,000 below the value of the basic family basket.
The salary drop in February deepened the drop that formal salaries had been experiencing over the course of last year. The average salary in 2023 will go from $194,175.11 in December 2022 to $484,298.40 in the same month of 2023. It represents an increase of 149.4% versus an inflation of 211.4%. It is equivalent to a loss of purchasing power of 20% for workers in poor households. It is one of the variables that is taken into account for the calculation of pension mobility along with the evolution of the tax collection that goes to Social Security, discounting the increase in the list of beneficiaries. It takes into account the salary amount up to the taxable limit defined for personal contributions to the social security system.