Wage agreement salaries have already chained five months of loss of purchasing power
Salaries fail to keep up with inflation since the outbreak of the Iran war: the average agreed increase until July is 3%, compared to a 3.5% increase in the CPI.
The wages agreed in collective agreements until July for 8.6 million workers show a 3% increase, according to the statistics published by the Ministry of Labor this Friday. This increase is half a point lower than the year-on-year increase in prices last month (inflation rose to 3.5% according to the INE's advance data), with the loss of purchasing power that this implies for all these employees.
This is the fifth consecutive month in which wages grow less than the CPI, since in March there was an inflationary rebound due to the impact of the rise in fuel prices following the attack by Israel and the United States on Iran.
Translated by urgent.news from El Pais Economia's report; automated translation may contain errors. Machine-written — it may contain errors, so check the original before relying on it.
