While Australia and much of the world is battling high single-digit inflation this year, Argentina's struggles are in a different category.
The country's official monthly minimum wage stands at 45,540 Argentine pesos while a basic food basket for a family of two adults and two children costs more than twice that amount at 111,298 pesos , according to the national statistics institute INDEC.
The latest effort involves the appointment of a new economy minister, Sergio Massa, who has been granted expanded powers to try to tame inflation."Today we are holding a symbolic funeral for wages, which we have to say expresses the situation that all workers in Argentina are experiencing," FOL's Maximiliano Maita said.
"So effectively the hydraulic pressure of unemployment being low putting upward pressure on wages, that pressure's still there, but now it's coming through in pipes that have all sorts of leaks coming out of them," he said.Australia has its lowest unemployment rate in decades. Why are some jobseekers struggling to find work?