Due to the skyrocketing price of meat, milk and dairy products, vegetables and fruit, the prices of basic foods increased in April increased by 11.04% against average inflation of 7.8%In the city of Buenos Aires.
In both cases they mark a acceleration given that in March basic foods had increased by 9.83% against an average inflation of 7.1%.
The main impulses in food came from meat and derivatives (11.5%) and vegetables, tubers and legumes (19.9%), milk, dairy products and eggs (10.8%) and bread and cereals (8.5%) according to data from the Directorate of Statistics and Censuses of the City of Buenos Aires.
For his part, in 12 months, all food items rack up a triple-digit increase.
On average the increases are 129.53% which breaks down into: Bread and cereals with an increase of 104.8%; Meat and derivatives 111.5%; Fish 120.5%; Milk, dairy products and eggs 120.6%; Oils, butter and other fats 132.1%; Fruit 171.7%; Vegetables, tubers and legumes 160.0%; Sugar 110%, Soft drinks 109.6% and other foods 105.6%.
The line of poverty for a typical family reached $119,742. Thus, in the first 4 months of this year alone, the basic basket of poverty in Buenos Aires – equivalent to the inflation of the poorest sectors – rose by 43.6%.
Due to the incidence of the City of Buenos Aires, it is assumed that national price indices and basket values will be close to these percentages.
Meanwhile, after rising 6.78% in January, 7.19% in February, the basket of poverty rose 9% in April with the cost rising from $191,241 in March to $208,569 not including the rent, if you add modest rent, a typical family (married couple and 2 minor children) needed more than $280,000 in order not to be poor.
With these values, the poverty line increased by 129.5% in 12 months (from $52,169 y $119,742) and poverty 118.9% ($95,268 to $208,569).
The 9.83% increase in basic food prices marks a strong acceleration. In November it was 3.8%. In December of 5.1%. In January 7.75%, in February 9.29%, in March 9.83% and in April 11%. And the measurement for May is also expected to show high percentages because, among other things, the price increases of fruit and vegetables, dairy products and soft drinks have continued.
As a result, rising prices have hit low-income families hardest, who devote 100% of their meager income to food.
These values explain why poverty continues to grow because, although there were higher levels of employment, precarious jobs are concentrated in the informal sectors, with lower incomes, and also why wage increases for regular workers have been lower than inflation.
In turn, to cover the expenses of an average industry, income would have to exceed $320,278 not counting any rent. If so, it should be around $400,000.
In the city of Buenos Aires in the fourth quarter of 2022 poverty was 16.9% of families (228,000 families) and 22.1% of people (680,000).
Poverty has reached 5.4 percent of households (73,000) and 7.7 percent of individuals (237,000), according to the CABA’s Directorate of Statistics and Census report. The first quarter 2023 measurement will be known on June 22.
Source: Clarin
