The wage index grew above the CPI both in the monthly and year-on-year comparison and in the year-to-date total
The monthly growth in May was driven by increases across all segments. The registered private sector rose 2.0%, the public sector 1.5%, and the unregistered private sector led with a 3.5% increase.
Wages in Argentina once again positioned above inflation in May 2026, according to data released by INDEC, in line with a trend of recovery of purchasing power so far this year.
The wage index recorded a monthly increase of 2.2%, while inflation was 2.1% in the same period, thanks to the successful economic plan of the Government of Javier Milei.
The improvement was not only evident in the monthly comparison. In year-on-year terms, incomes grew by 35.9%, surpassing the inflation of 33.2% recorded in the same period.
Furthermore, in the first five months of 2026, the wage index accumulated a rise of 15.2%, above the 14.7% increase of the consumer price index.
In the year-on-year comparison, generalized increases were also observed. The registered private sector advanced 29.3%, the public sector 27.4%, and the unregistered private sector showed a strong increase of 66.3%, positioning itself as the most dynamically growing.
Regarding the accumulation since December 2025, the wage index grew 15.2%, with increases of 12.3% in the registered private sector, 13.7% in the public sector, and 23.9% in the unregistered private sector.
The positive evolution in May adds to what occurred in April 2026, when wages had already shown a real improvement. In that month, workers' incomes rose by 3.7% against an inflation of 2.6%, which also implied a recovery of purchasing power.
Thus, the data reflects that wages outpaced inflation not only in May but also in the year-to-date accumulation and in the year-on-year comparison, in a context where incomes are beginning to show a sustained growth dynamic against the evolution of prices.
