In the case of the national minimum wage, which is currently at €705, purchasing power after inflation is at €635.21, which means that you 'lose' about €70.
Pordata provides a feature on its website - which you can access here - which allows you to understand how rising prices influence workers' remuneration.
"This tool allows you to convert a certain amount, using the monthly value of the Consumer Price Index (CPI). It is about transforming values at current/nominal prices into values at constant/real prices, discounting inflation", states the platform.
This calculation, explains Pordata, "is made based on the last monthly value of the index released by the National Institute of Statistics (INE)".
The year-on-year change in the CPI - also known as the inflation rate - was 9.9% in November 2022, a figure 0.2 percentage points (p.p.) lower than that observed in the previous month, revealed the INE last week.
Taking a salary of €1,000 as a reference, the platform reveals that inflation 'takes away' about €100 from this value, since purchasing power after inflation is around €901 euros.
In the case of the national minimum wage (SMN), which is currently at €705, purchasing power after inflation is at €635.21, which means that you 'lose' about €70. Next year the SMN will be €760, which means that whoever receives it, in practice, will have a purchasing power of €684.76.
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