The average family expenses of an executive increased by 32% in the first half of the year.
In the first six months of the year, inflation accumulated in higher-income households an increase of 32.8%, according to an Executive Professional Basket (CPE) measured by the UCEMA Center for Applied Economics.
This basket takes into account the typical consumption of goods and services of a family of that social class. So, This family group needed $ 685,070 per month to live in July.
Far from having that amount available, the middle and lower sectors of society adjust to other balance sheets. For example, the cost of the total base basket (CBT) as measured by INDEC determined this in June a typical family of two adults and two minors was to receive an income of $ 104,216.80 to avoid falling into poverty. Thus, in the first six months of the year, CBT accumulated an increase of 36.9%,
In the case of the executive professional basket, the change in the first half of 2022 was well above the 25.7% and 22% recorded by the same measurement in the first and second half of 2021 respectively. price acceleration this year, especially in the last month after the change of economy ministers.
Compared to the first half of 2021, the cost of this higher income basket increased by 62.1% e scored the highest value since the survey began. And, according to analysts at the university, “although this annual increase is high, it is well below the annualized inflation of the first half, which stood at 76.3% and all indicates that the the second half of the year will be worse in terms of inflation, as these values pre-date the segmented tariff adjustment which will have a major impact on high-income households and the dollar escalation that has soared with the sudden departure of former Economy Minister Martín Guzmán “, they explained.
According to these forecasts, the annual inflation in the executive basket would be comfortably above 80% by the end of the year and it could even exceed 90% or even 100% per year.
In current pesos, this family’s spending increased by $ 169,000 from its December 2021 value to reach $ 685,070. This is 58 times the value of $ 11,787 with which the survey of this index began in March 2008. Measured in free dollars, the cost of the basket was $ 2,969.
the category Education, due to private tuition, was the one that grew the most in the semester, with an increase of 44%. The chapters of food and drink, clothing and health. Expenses for household appliances and maintenance (excluding taxes) increased by 38%.
Below the average are the chapters on transport and communications, housing and basic services, with half-yearly variations of 30.1% and 29.9% respectively. As the UCEMA report makes clear, these items “have a strong component of regulated prices and are expected to increase more strongly in the second half of the year due to rate correction. The chapter that grew the least in the first half of the year was free time, which recorded an increase of 15.3% ”.
Compared to the first half of last year, the chapter that has grown the most was clothing with an increase of more than 80% per yearaccording to this index which has been developed monthly since 2011 by Alejandro Rodríguez, director of the university’s Bachelor of Economics.