A family of four in the City of Buenos Aires needed to have 15,388.83 pesos in personal finances in June to not be considered poor. That averaged 513 pesos per day, according to the cost of a Total Basic Consumption Basket (CBT), the General Directorate of Statistic and Census at the Ministry of Finance in Buenos Aires revealed Thursday.
The poverty line rose 0.9 percent from May and 21 percent as compared with June of last year. Both trends reflect increases lower than the rate of inflation in the CABA, since the highest price jumps localize in nonessential goods and services.
The same family unit needed to have AR $7,478 in June to not be considered destitute, according to the Basic Food Basket (CBA). That marks a 0.2 percent decrease since May, but an 18.5 percent increase since last June. The overall increase rate is still four percentage points below inflation in the capital.
The CBT accounts for the entire spectrum of incomes. Families that were “not desperately poor” fell between 15,388.83 and 19,744.35 pesos, “middle class” fell between 24,680.45 and 78,977.43 pesos, and “well-off” above 78,977.43 pesos in June.
Next Tuesday, Indec will release data for the Greater Buenos Aires area. The region’s numbers in May – 14,665 pesos for the CBT and 5,986 for the CBA – were both lower than corresponding statistics in the city proper.