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Argentina raises monthly minimum wage to $317 as inflation rises By Reuters


© Reuters. FILE PHOTO: Demonstrators play drums outside the Ministry Labour building, during a protest in demand of an increase in the minimum wage, welfare plans and jobs, during the spread of the coronavirus disease (COVID-19), in Buenos Aires, Argentina October 1

BUENOS AIRES (Reuters) – Argentina on Tuesday raised the country’s minimum wage to 31,104 Argentine pesos ($316.51) a month starting in September, as persistent inflation eats away at purchasing power.

According to the government, October will see the minimum wage rise to 31938 Argentine and 32,616 Argentine dollars.

On Twitter, Economy Minister Martin Guzman announced that the minimum wage would have increased by 55.3% in 2021 (NYSE:).

President Alberto Fernandez stated that today’s salary was “a bit more equitable”.

According to inflation, the minimum wage has increased. Prices in Argentina have risen 51.4% in the past 12 months.

($1 = 98.2720 Argentine pesos)

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