Minimum wage in 2023 should rise less after government reviews inflation

Minimum wage may not reach R$ 1.3 thousand
Marcello Casal Jr/Agência Brasil

Minimum wage may not reach R$ 1.3 thousand

The official estimate for this year’s National Consumer Price Index (INPC) was reduced this Thursday (15) by the Economic Policy Secretariat of the Ministry of Economy. The estimate, which was 7.41%, dropped to 6.54%.

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If the forecast is confirmed, the readjustment of the minimum wage in 2023 will be lower than expected. Last week, the federal government sent the proposal for next year’s budget, taking into account a minimum wage of R$ 1,302, whose calculation was based on the INPC, closing the year at 7.41%.

With the changed estimate, if the INPC closes 2022 at 6.54%, the minimum wage for 2023 would be BRL 1,292, BRL 10 less than the amount previously disclosed. The new estimate is also provisional, since the value of the minimum wage will have to be revised by the government according to the real rate that the INPC ends the year.

If the government confirms the readjustment of the minimum wage without a real increase, that is, only following the index, this will be the fourth year in a row without an increase above inflation.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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