The Milei administration has been arguing for months that Argentines’ purchasing power is recovering after the sharp fiscal adjustment of 2024 — even claiming it has already surpassed the levels seen under Alberto Fernández’s presidency.

That claim has been based on a specific indicator: the registered private-sector wage index, which is based on data compiled by the human capital ministry.

Unlike the wage figure used by statistics institute INDEC, this indicator uses a different methodology, as it accounts for overtime, awards, and bonuses received by salaried workers.

In recent days, however, the indicator’s dip left the government without a leg to stand on: after 20 straight months above........

© Buenos Aires Herald