In April, in order not to be poor in the city of Buenos Aires, a typical family needed an income of $119,742. But be middle class he should have won a minimum of $320,278.95.
This value is 8.9% more than in March and it does not provide for the payment of the rent, which does not fall below 80,000 dollars a month for a family in the capital. The statistical institute of Buenos Aires takes as a parameter a 35-year-old couple, women and men, both economically active and homeowners, with two sons aged 9 and 6.
Between not being poor and reaching the middle class, there are two “layers” more income, all struggling day by day: just above poverty, are households earning between $208,568 and $256,223, and account for the “vulnerable not poor” sector.that is, they are very close to crossing the line that keeps them apart from poverty.
And, above this group, but not yet bourgeois, are the houses of the “fragile middle sector”, with income between $256,223 and $320,278.
The middle class is made up of a group of families with a salary range ranging from $302,278 to $1,024,892.63.
With inflation liquefying the value of the peso, already from the segment of wealthy class.who has the highest income in the Municipality, you must have an i“millionaire” income of more than $1,024,892, or $2,356 against the MEP dollar.
On the other hand, a household is destitute when it has an income of less than $119,742 (US$275).
Go full speed ahead
In the first 4 months of this year, the basic basket of poverty in Buenos Aires – equivalent to the inflation of the poorest sectors – rose by 43.6%.
Due to the skyrocketing price of meat, milk and dairy products, vegetables and fruit, the prices of staple 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%.
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 it is expected that the May measurement will also 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 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
