CABA: A typical family needed $814,017 to avoid poverty in February

The Statistical Directorate of the City of Buenos Aires reported that the total basic basket that measures poverty grew 15.94 percent, while the food basket that reflects indigence rose 14.85 percent. According to the report, a typical family in the City of Buenos Aires last month needed to earn at least $1,017,520.79 to be considered middle class and $814,017 to not fall below the poverty line. On the other hand, in order not to be destitute, at least $419,844 per month was needed. In addition, these values are reached assuming that the family owns the home, i.e., rent is not included. As a result, the number of thousands of families renting in the City of Buenos Aires is significantly higher. During February, the indigence line corresponding to the Basic Food Basket was $402,752, an increase of 14.89% over January (in line with the inflation index) and 310.2% year-on-year, here there is an ostensible difference with year-on-year inflation that reached 264.5%. Inflation hit the homeless 45 percentage points higher than the general population. The indigence basket increased from January to February by $52,190 pesos, about 1800 pesos per day during the 29 days of February. In the case of the poverty line, the month-on-month increase in pesos was $94,073. Regarding the poverty line, the Total Basic Basket in February was $684,115. Almost 16% more than in January of this year and 290.7% in the year-on-year variation. Once again, it was significantly above the general inflation rate for the period.

Original source in Spanish