26/06/2026 16:24 - Economia
After seven consecutive months of decline, registered disposable income—the money that effectively remains in Argentines' pockets after paying fixed monthly expenses—recorded a 0.8% monthly increase in April 2026, according to a report by the consulting firm Equilibra.
This data marks the first positive sign in this indicator since August 2025, although specialists warn that the recovery is incipient and the gap with 2023 levels remains significant.
It's the money left after paying fixed expenses: rent, building fees, medications, electricity, gas and water bills, telephone, internet, transportation, education, and private health insurance. It represents the real purchasing power of households.
The April improvement was not across the board. The Equilibra report shows that the only segment recording positive variations was formal private sector employees:
| Segment | Monthly Variation | Year-over-Year Variation |
|---|---|---|
| Formal private sector employees | +1.6% | +1.5% |
| Public employees | -1.1% | -6.6% |
| Minimum pensions with bonus | -0.7% | -9.2% |
| Non-minimum pensions | -0.2% | -3.5% |
Workers in the registered private sector were the only ones to record a positive year-over-year variation, becoming the group with the best relative performance of the period.
Despite April's recovery, total disposable income remains 14.5% below the average of January-September 2023, the reference period before the government change.
-9.3%
vs. January-September 2023
-14.5%
vs. January-September 2023
The report uses updated weightings from the National Household Expenditure Survey (ENGHo) 2017/18, which better reflect the real weight of services and regulated expenses in family budgets—categories that in recent years have increased above average inflation.
The Equilibra report's table exposes the accumulated asymmetry since the government change in terms of disposable income:
| Sector | Fall in Disposable Income |
|---|---|
| Total public sector | -34.6% |
| Non-minimum pensions | -29.2% |
| Minimum pensions with bonus | -24.9% |
| Registered private sector | -3.1% |
The registered private sector shows the smallest accumulated deterioration, while the public sector and pensions show steeper declines in their effective purchasing power.
For international readers, it's important to understand that Argentina has faced significant economic challenges in recent years, including high inflation rates that have historically exceeded 100% annually. The concept of disposable income is crucial for understanding the real situation of households: when fixed expenses (rent, utility rates, private health insurance) increase above incomes or average inflation, the capacity to consume other goods and services becomes compressed.
This was the mechanism operating during the seven months prior to April: fixed expenses grew faster than incomes, deteriorating the money effectively available for families.
Source: Infobae based on report by consulting firm Equilibra, June 2026.
Alfredo S. Quiroga
