The poorest sectors are the hardest hit by inflation. With an average price increase in March of 7.8% in the Metropolitan Region, homeless inflation has risen to 9% and accumulates in the first three months an increase of 30.6% against an average price increase of 21.9%.
Compared to March 2022, the increase in the basic food basket is 120.1% against 105.3% average inflation for Capital and GBA.
For his part, the poverty line increased by 8% in March and it accumulates a 25.4% increase in the first quarter and 113.2% year over year.
With these values, a typical family (married couple and 2 children) needed to have a higher income than the type. 191,228.05 to avoid being poor, without calculating any rent.
In the City of Buenos Aires, the poverty line increased by 9.83% according to the Buenos Aires Department of Statistics. Meanwhile, the poverty line stood at $107,836 and the poverty line at $191,241, without calculating rent.
In Mendoza, according to the DEIE (Department of Statistics and Economic Research) of the province, the basic food basket has increased by 13.5% and accumulates an increase of 41.9% in three months. Meanwhile, the poverty basket increased by 10.8% last month and by 34.2% between January and March, topping the Capital and GBA indices so far in 2023.
The rapidity of increases in the prices of basic foods is the most relevant feature of the current inflation, rather than canceling the increases in parities and bonuses and/or income reinforcements that the Government grants from time to time to vulnerable sectors.
At these values, a basic food basket for a typical family renting a modest home would be around $260,000, a value that is very difficult even for registered job heads to achieve.
The increase in the poverty line has exceeded average inflation because the prices of basic foodstuffs which, in proportion to their meager income, are mostly consumed by families in situations of extreme poverty. For example, meat and derivatives in March recorded an average increase of 11.1%, fruit of 14.4% and vegetables of 14.6%.
In April these values continue to rise, due to the increase in prices, the surge in the dollar and also the drought which is limiting the supply of vegetables, fruit and vegetables.
All these values and indices anticipate that in this first quarter both indigence and poverty would jump because the incomes of low-income sectors, of irregular wage earners (“in black”) and also of registered wage earners and the self-employed are lower than the evolution of poverty and poverty lines.
Source: Clarin
