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Basic basket: a family needed $596,823 in January to not be poor

2024-02-14T19:29:35.372Z

Highlights: Basic basket: a family needed $596,823 in January to not be poor. An increase of 20.4% was recorded compared to December. Meanwhile, $285,561 is needed to avoid falling into poverty. The Government estimated ten days ago that after the December devaluation and the jump in inflation to 25.5% - the highest in 30 years -, poverty was already around 50% of the population. The number, which has not been recorded for two decades, appears in the letter of intent presented by Argentina for the International Monetary Fund staff report approved at the end of January.


An increase of 20.4% was recorded compared to December. The data was shared this Wednesday by INDEC, at the same time that it announced the inflation for the first month of the year.


On the same day that inflation for the month of January was announced, the

National Institute of Statistics and Censuses

(INDEC) reported that last month's basic basket rose 20.4% and

a typical family needed $596,823.18 to not be

poor

Meanwhile, $285,561 is needed to avoid falling into poverty.

The organization reported this data minutes after publishing the Consumer Price Index (CPI), which measures inflation, which in January reached 20.6% and the interannual rate jumped to 254%.

In December, the basic basket had indicated that in order not to be poor, $495,798 was needed, always speaking of a family made up of a couple and two children.

For its part, to avoid falling into poverty, $240,679 was required.

Thus, in January there was a 20.4% increase in the Total Basic Basket (CBT), while the Basic Food Basket rose 18.6% (CBA).

The monthly variation of the CBA in December had been 30.1%, while that of the CBT had been 27% compared to November, both above inflation, which was 25.5%.

The latest official

poverty

data , corresponding to the first half of last year, indicated that 40.1% of the population had fallen into this condition.

The next official data will only arrive in March

and will not yet have the impact of the strong inflation in January.

In the data

released by INDEC this Wednesday

, it was calculated that the indigence line for the statistical unit of

an "equivalent adult"

was $92,415.

In the case of poverty, it was $193,147.

A

household of 3 members

needed $227,340 to not be indigent and $475,141 to not be poor.

Finally, the Basic Food Basket for a

family of 5 members

amounts to $300,348 and the Total Basic Basket is $627,727.

The Government, meanwhile, estimated ten days ago that after the December devaluation and the jump in inflation to 25.5% - the highest in 30 years -, poverty was already around 50% of the population.

The number, which has not been recorded for two decades, appears in the letter of intent presented by Argentina for the International Monetary Fund staff report approved at the end of January.

Source: clarin

All business articles on 2024-02-14

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