A family in Buenos Aires needed to earn AR $13,335 in October in order to not to be considered “poor” according to the City’s Statistics Division, seeing a 2.1 percent increase from September. The hypothetical family described features two 35 year old adults with two dependent children of six and eight.
This family would need to be able to spend at least AR $6,676 on basic food goods to meet minimum requirements to stay above the povertyline.
You can read the full October report here.
The overall figure of AR $13,335 addresses money needed for the Basic Goods Basket (CBT), an indicator of some services as well as food, although not taking rent payments into account. Buenos Aires has seen the cost of the CBT continue to increase since January by some 29.3 percent.
The first poverty statistics to be released after three years, revealed that in September 32.2 percent of Argentines fall below the poverty line. The Catholic University of Argentina also calculated that earlier this year around 1.4 million people fell under the poverty line. The causes behind these figures? Mainly inflation and public utility hikes.
“Knowing that one of every three Argentines is below the poverty line has to hurt us, anger us and commit us to work together to repair this situation each day” said President Mauricio Macri in September.