translated from Spanish: How much purchasing power lost retirees and pensioners to inflation?

in the middle of the crisis facing our country, the vulnerable are always the hardest. Among them, are retirees and pensioners, whose purchasing power is losing the battle against the rampant inflation.

According to the statements of the defender of the third age Eugenio Semino, this social stratum accumulated a loss of purchasing power of 9.7% year on year and is expected to close the year with a decline of 13 percent.

Despite the increases provided by the new law of mobility promoted by the Government – the last was in September – who come to these assets experienced an increase of 19.2% in the past 12 months, while inflation was between 32% and 33% , according to designated INDEC in the coming days.

“The retirees and pensioners have lost over the last year with respect to the basket in a very significant way.” The full application of the law of mobility already with the calculation of December will be in a readjustment of 29% when inflation estimates exceed 40% “, said Semino in dialogue with Radio La Red.

According to official forecasts on which was the fiscal adjustment that is propelled by the Executive power, Argentina will end 2018 with an average inflation of around 42% and this figure will decrease to 25% per year in 2019.

On the other hand, Semino gave the go-ahead to the “bonus” compensation for the beneficiaries of the Universal allocation per child (AUH), although he said that the State “has forgotten” retirees. 

retired pensioners inflation can lose purchasing

Original source in Spanish