Basic basket: A family needed $596,823 in January to stay out of poverty

On the same day that inflation for the month of January was announced, the National Institute of Statistics and Censuses (INDEC) reported that last month’s core basket increased by 20.4% and A typical family needed $596,823.18 to stay out of poverty. Meanwhile, to avoid falling into poverty, $285,561 is needed.

The organization reported this data just minutes after the release of the consumer price index (CPI), which measures inflation, which reached 20.6% in January and the interannual rate jumped to 254%.

In December the basic basket indicated that to avoid being poor you needed 495,798 dollars, again talking about a family made up of a couple and two children. For his part, to avoid falling into poverty, 240,679 dollars would have been needed. In the month of January the Total Basic Basket (CBT) increased by 20.4%, while the Basic Food Basket grew by 18.6% (CBA).

The monthly change in the CBA in December was 30.1%, while that of the CBT was 27% compared to November, both above inflation, which was 25.5%.

The latest official data from povertycorresponding to the first half of last year, indicated that 40.1% of the population had fallen into this condition. The next official data will arrive only in March and it will not yet have the impact of the strong inflation of January.

In the data published by INDEC this Wednesdayit was calculated that the poverty line for the statistical unit of an “equivalent adult” It was $92,415. In the case of poverty, it was $193,147.

A family unit of 3 members He needed $227,340 to not be destitute and $475,141 to not be poor. Finally, the Basic Food Basket for a family of 5 members amounts to $300,348 and the Total Base Basket amounts to $627,727.

Meanwhile, ten days ago the government estimated that, after the devaluation in December and the jump in inflation to 25.5% – the highest level in the last 30 years – poverty already reached 50% of the population. The figure, which had not been recorded for two decades, appears in the letter of intent submitted by Argentina for the International Monetary Fund report approved at the end of January.