The federal government’s new inflation forecast points to a 6% readjustment in INSS (National Social Security Institute) retirements in 2023. The INPC (National Consumer Price Index), used to correct wages and benefits in the country, should close year lower than previously forecast by the economic team.
The final index to be applied, however, will only be known on January 10, when the IBGE (Brazilian Institute of Geography and Statistics) will release the 2022 inflation. 7,512.45. The minimum wage would be around R$ 1,302 with the application of inflation estimated at 6% plus a real increase of 1.3% or 1.4%, as foreseen by the transition team of the Lula government.
The Ministry of Economy also worsened the estimate of GDP growth (Gross Domestic Product) in 2023 to 2.1%, against the previous forecast of 2.5%.
See how much INSS retirement can go in 2023
| Benefit value in 2022 | How much can it go to in 2023 |
| 1,212 | 1,302 |
| 1,300 | 1,378 |
| 1,400 | 1,484 |
| 1,500 | 1,590 |
| 1,600 | 1,696 |
| 1,700 | 1,802 |
| 1,800 | 1908 |
| 1,900 | 2014 |
| 2,000 | 2,120 |
| 2,100 | 2,226 |
| 2,200 | 2,332 |
| 2,300 | 2,438 |
| 2,400 | 2,544 |
| 2,500 | 2,650 |
| 2,600 | 2,756 |
| 2,700 | 2,862 |
| 2,800 | 2,968 |
| 2,900 | 3,074 |
| 3,000 | 3,180 |
| 3,100 | 3,286 |
| 3,200 | 3,392 |
| 3,300 | 3,498 |
| 3,400 | 3,604 |
| 3,500 | 3,710 |
| 3,600 | 3,816 |
| 3,700 | 3,922 |
| 3,800 | 4,028 |
| 3,900 | 4,134 |
| 4,000 | 4,240 |
| 4,100 | 4,346 |
| 4,200 | 4,452 |
| 4,300 | 4,558 |
| 4,400 | 4,664 |
| 4,500 | 4,770 |
| 4,600 | 4,876 |
| 4,700 | 4,982 |
| 4,800 | 5,088 |
| 4,900 | 5,194 |
| 5,000 | 5,300 |
| 5,100 | 5,406 |
| 5,200 | 5,512 |
| 5,300 | 5,618 |
| 5,400 | 5,724 |
| 5,500 | 5,830 |
| 5,600 | 5,936 |
| 5,700 | 6,042 |
| 5,800 | 6,148 |
| 5,900 | 6,254 |
| 6,000 | 6,360 |
| 6,100 | 6,466 |
| 6,200 | 6,572 |
| 6,300 | 6,678 |
| 6,400 | 6,784 |
| 6,500 | 6,890 |
| 6,600 | 6,996 |
| 6,700 | 7,102 |
| 6,800 | 7,208 |
| 6,900 | 7,314 |
| 7,000 | 7,420 |
| 7,087.22 | 7,512.45 |
In August, the inflation forecast was 7.41%, raising the INSS ceiling forecast to R$7,612.38 in 2023. The minimum wage was forecast at R$1,302, the same amount to be paid to policyholders who receive the social security benefits, including retirement, pensions, aid and the BPC (Benefit of Continued Provision) intended for people with disabilities and the elderly with an income of up to a quarter of the minimum wage per person in the family.
Inflation dropped
With the fuel subsidy made by the government before the elections through the Kamikaze PEC (proposed amendment to the Constitution), the country registered deflation for three consecutive months: July, August and September. In October, however, the index rose again and the trend is also upwards in December.
In 2023, the policy of valuing the minimum wage should come into force again, as occurred between 2006 and 2019. The previous rule took into account inflation plus GDP (Gross Domestic Product) of two years before. Now, the proposal is to average the GDP of the last five years.
The readjustment above inflation was implemented by Lula and transformed into law by Dilma Rousseff, valid only until 2019. The Bolsonaro government ended the appreciation.
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