The price of the basic basket of Argentina soared more than inflation

A family of four members, two adults and two children, needs 128,214 Argentine pesos to avoid being poor, according to data reported this Wednesday by the National Institute of Statistics and Censuses (INDEC). In turn, in order not to be considered indigent, 56,732 Argentine pesos are required.

This is indicated by the composite value of the basic basket total (CBT), which determines the level of poverty by income, which had a variation in September compared to August of 7.1 percent.

The monthly increase was the same for the basic food basket (CBA), which indicates the level of income indigence. The publication of the data was released a week after the INDEC reported an inflation rate of 6.2% for the month of September.

In the measurement of the last 12 months, the variation of the CBA (89%) was even greater than the increase in the Consumer’s price index (83%), although the total basic basket had a lower incidence (81.8 percent).

An adult is poor when they earn less than 41,493 Argentine pesos; while he falls into the indigence line when he falls below 18,360 Argentine pesos, indicated the report published by the statistical authority.

Meanwhile, a family made up of three members (an adult woman, a teenage son and an elderly person) has a poverty line of 102,073 Argentine pesos and an indigence line of 45,165 Argentine pesos. In turn, for a group of five family members (an adult couple and three children) it is 134,853 and 59,669 Argentine pesos, respectively.

What does the measurement of the basic basket indicate?

Both very relevant data to determine the magnitude of the economic crisis in social indicators:

While the Total Basic Basket (CBT), in addition to food, includes other spending items such as clothing, health, transportation or education, which determines the “poverty line”.

On the other hand, the Basic Food Basket (CBA) is limited to surveying basic necessities and configures the “line of indigence”: those families that do not manage to cover the necessary income to acquire it are indigent.

This is determined taking into account the normative kilocalorie and protein requirements that are essential for an adult male between 30 and 60 years of age, with moderate activity, to cover these needs for a month.