Argentina: the basic basket exceeds inflation

Argentina: the basic basket exceeds inflation

A family of four, two adults and two children, in Argentina needed more than 119,557 pesos ($824) not to be poor, according to data published by the National Institute of Statistics and Census (INDEC). In contrast, in order not to be considered destitute, $52,990 ($365) is required.

This is indicated by the composite value of the total basic basket (CBT), which determines the level of poverty by income, which means an increase during August of 7.6%, a figure that significantly exceeded the inflation rate of 7% for the same. Month.

Meanwhile, the Basic Food Basket (CBA), the indicator of the level of deficiency, recorded a growth of 7.1 percent. The data is released one week before INDEC releases its poverty and destitution report for the first half of 2022.

Another notable data is that the inter-annual variance in CBA was far from that marked by higher prices, with the former growing by 81.4%, while the latter by 78.5%. For its part, the Tunisian Central Bank increased by 75.2 percent.

Both the Central Bank of Canada and the Central Bank of Tunisia are alerting the national economy to the danger of the rising inflation. In nominal measure, an adult needs more than $17,148.80 ($118) to not be considered destitute, while it needs $38,756 ($266) to avoid falling into poverty.

Both data are very relevant for determining the magnitude of the economic crisis in social indicators. While the total basic basket (CBT) includes, in addition to food, other items of expenditure such as clothing, health, transportation or education, which determine the “poverty line”.

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On the other hand, the Basic Food Basket (CBA) is limited to the survey of basic needs and the formation of the ‘deficiency line’.

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