Minimum wage in Argentina is going up 27 percent, first from to 980 pesos a month to 1,200 pesos a month in August and then up to 1,240 pesos ($400) a month in December. According to The Economic Times, this increase was negotiated between labor unions, industry leaders, and the government. Despite the fact that the government calculates the annual inflation at around 9 percent, independent analysts believe that it prices have been increasing around 20 to 25 percent. The decision to increase minimum wage so much more than the reported inflation perhaps reflects both the general awareness in Argentina of the high inflation and the desire of President Cristina Kirchner to move on from the recent Senate vote against soy taxes.
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