Basic basket: a family needed almost $400 thousand to avoid falling into destitution

Based on the report released by INDEC on Friday afternoon where a slight rise in inflation was reported, it was explained that a typical family needed income of $873,169 in June to reach a Total Basic Basket and not be considered poor and $393,319, which is equivalent to a Basic Food Basket, so as not to fall into indigence. During June 2024, the monthly variation of the basic food basket (CBA) was 1.6%, while that of the total basic basket (CBT) was 2.6%. Both baskets rose below inflation for the period, which was 4.6%. Due to the weight of the items of goods, particularly food and beverages that make up both baskets, and due to the slowdown in inflation in these items, the increase in the baskets was ostensibly lower. The CBA and the CBT accumulated increases of 63.4% and 76.1%, respectively, in the first half of the year, below the 79.8% inflation, in accordance with the lower impact of inflation on food and basic goods that make up the basket. With the slowdown in inflation in the first half of the year, the first to feel the least burden are the most vulnerable sectors. In the year-on-year variation, the CBA advanced 277.4% and the CBT 275.7%, respectively. In this case, due to the impact of inflation, especially on basic goods and services in the last six months, these figures are above the general index, which marked 271.5% in the last twelve months. The income level for a household of three, where a grandmother, a mother and a son live, needed income of $313,128 to avoid falling into destitution and $695,144 to not be poor. In the case of the typical family of four, made up of a couple and two minors, more than $393,319 had to be paid not to be indigent and $873,169 not to be poor. In the case of a household of five members, a couple and three children, the minimum income to not be indigent was $416,685, while to be above the poverty line an income greater than $918,381 was needed.

Original source in Spanish