Wires

Argentina workers to receive one-time payment of $88 amid high inflation

Nicolás Misculin

BUENOS AIRES, Sept 23 (Reuters) - Argentina's private-sector workers will see their wages topped off by 5,000 pesos ($88) in a one-time payment aimed at boosting their buying power amid surging inflation, the Production Ministry said on Monday.

The deal, struck between President Mauricio Macri's administration and the country's powerful unions and trade groups, followed Macri's trouncing in an August primary vote by presidential contender and Peronist Alberto Fernandez.

Argentine economic growth has stalled since last year, while inflation, running over 50% for the last 12 months, is far outstripping salaries, leading to a sharp uptick in poverty.

The economic crisis spiraled further after the shock results of the August primary vote dimmed Macri's chances for re-election. (Reporting by Nicolas Misculin; Writing by Dave Sherwood; Editing by Cynthia Osterman)