Poverty reached 50.5% in Argentina in the first half of 2024, according to private study

Preceded by the official data from the National Institute of Statistics and Census (INDEC), the Torcuato Di Tella University (UTDI) revealed that poverty reached 50.5% of the population in Argentina during the first half of 2024 and affects more than 23,175,000 people throughout the country. The index made by the private report is supported by quarterly information from the Total Basic Basket (CBT) of INDEC. Its methodology is updated every month and the estimate is based on the projection of the structure of the labor market. In the first quarter, the poverty figure was projected at 52.6% on average and 48.5% between April and June, which brings the six-month average to 50.5% of the total population. “For the average total family income (FTI), a year-on-year increase of 214.8% was projected for the semester. With these data and the simulation of the microdata from the Permanent Household Survey (EPH) of the first and second quarters of 2024, the poverty rate was projected,” the institution explains. A family needed almost $400,000 to avoid falling into povertyA typical family of four people needed an 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, to avoid falling into destitution. 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%.

Original source in Spanish