Sad news involving the 2023 minimum wage

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

If the forecast is confirmed, the readjustment of the minimum wage in 2023 will be lower than expected. Because, last week, the federal government sent the proposal for next year’s budget taking into account a minimum wage of R$ 1,302.00, in which the calculation was based on the INPC closing the year at 7.41%.

Therefore, with the changed estimate, if the INPC closed 2022 at 6.54%, the minimum wage for 2023 would be BRL 1,292.00, BRL 10.00 less than the amount previously disclosed. However, this new forecast is also provisional. Because the value of the minimum wage must be reviewed by the government according to the real rate that INPC ends the year.

Thus, if the government confirms the readjustment of the minimum wage without real increase. That is, only following the index, this will be the fourth consecutive year without an increase above inflation.

Minimum salary of 2022

This year, the minimum wage is R$ 1,212.00.

Thus, to calculate the value for 2022, the inflation measured by the National Consumer Price Index (INPC) forecast for the year 2021 was used, which totaled 10.02%.

What is the impact of the minimum wage adjustment?

As disclosed by the Inter-union Department of Statistics and Socioeconomic Studies (Dieese), the minimum wage is a reference for 50 million people in Brazil. 24 million are insured by the National Institute of Social Security (INSS).

The federal government estimates that, for each increase of R$ 1.00 in the national salary floor, an average increase of R$ 364.8 million in 2022 expenses with Social Security Benefits, Allowance and Unemployment Insurance and Continued Provision Benefits ( BPC).

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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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