The cost of essential food basket (CBA) items rose 11.7% during February and accumulates 115.1% in the last 12 months. The Total Basic Basket (CBT) registered an increase of 8.3% in the second month of the year and accumulates 111.3% in the last twelve.
Both indices increased significantly above inflation, both monthly and interannual, showing that inflation hits the most needy people the hardest. These indices are key in calculating poverty and indigence of the population.
For the second month of the year, the monthly increase of the CBA was 11.7%, while that of the CBT was 8.3%, significantly above the rise in the cost of living in this month reported by INDEC of 6.6%.
Thus, for the month of February, a family of 4 needed to have a minimum income of $177,063 in order to avoid falling into poverty, and $80,483 to avoid falling into indigence.
According to official figures from INDEC, a family of three members, owners of the house they occupy, the cost of the CBT reached $140,963 in February and for a family group of five members $186,231.
The CBA cost $64,074 for a family group of three members, while for one of five members it rose to $84,651. For an adult person, last December the cost of CBT was $57,302 and food $26,046.
A family of four needed $177,062.87 to overcome the poverty line in February 2023: 8.3% more than the previous month https://t.co/m9SsiS1SiG pic.twitter.com/jyxiYBbmEJ
— INDEC Argentina (@INDECArgentina) March 16, 2023
Source: NA, Indec