Government assesses value for the 2022 minimum wage; check the current forecast

With the promise of the highest increase in the last six years, the minimum wage expected for 2022 is R$ 1,170.00. However, this scale of value will not, in fact, have a real gain for the worker. This is because the amount conforms to the purchasing power in the face of inflation, being a compensation for the value.

The economic team’s forecast is to work at a 6.2% readjustment rate. Specialists heard in a report by Folha de São Paulo, on the other hand, project a higher number for inflation: in the home of 7.11%. This means to say that the amount foreseen by the government is still outdated.

Economy Minister Paulo Guedes, along with his team, is expected to present the correction in the budget forecast until next August 31. To correct the minimum wage, the government is guided by the National Consumer Price Index (INPC). According to the Brazilian Institute of Economics of the Getúlio Vargas Foundation, Ibrev FGV, it is estimated that it will reach 8% by the end of the year.

For the government, according to Paulo Guedes, the impact could be up to R$ 24 billion, as there are some benefits that are based on and adjusted according to the minimum wage. Among them, it is possible to highlight: INSS payments, PIS/Pasep salary bonus and unemployment insurance.

IPCA inflation

In July of this year, 2021, the Extended National Consumer Price Index (IPCA) marked 0.96% increase, being the biggest result for the month in the last 20 years, when it had a high of 1.19%.

In the evaluations on the IPCA, the main groups responsible for the Brazilians’ expenses had a high. In other words, from the basic food basket to housing, transport and health.

Minimum wage and the Constitution

The Constitution stipulates that the minimum wage must guarantee the worker’s purchasing power.

In this way, the value is corrected at least through inflation. Therefore, it is important that the government does not make calculation errors.