Inflation: how much a family needed in August to be below the poverty line

Last Wednesday, the INDEC (National Institute of Statistics and Censuses) revealed that the inflation in August it had a low deceleration, in relation to July, but it remained high, due to the fact that it was located at 7%.

Though the price index was mainly impacted by increases in items such as clothing and footwear, various goods and services, and equipment and home maintenance, the increase in food prices further affected the inflation.

Inflation: how much a family needed in August to be below the poverty line

In this sense, with the inflation August, a family of four, resident in the City of Buenos Aires, needed to have an income of $65,737 in order not to be considered indigent.

Likewise, the same family group required to have $121,158 to be above the poverty line and $186,136 to be middle class and cover only basic food expenses, according to the Buenos Aires General Directorate of Statistics and Census.

August marked the third highest inflation of the year.

This means that, in the City of Buenos Aires, the basic basket had an increase of 7.33%, in relation to July and reached an accumulated 84.14% in the last twelve months, the highest figure this year.

Meanwhile, the total basic basket, which includes, in addition to food and beverages, some services such as health, transportation, communications, clothing and footwear, increased 7.44% compared to July, while the year-on-year increase reached 78, 75%.

Food and beverage increases were above the general index.

Nevertheless, These values do not include rent payments and expenses since they are not considered consumption expenses.. During August the rent had an average increase of 60%.

The INDEC will announce the measurement of the basic baskets next week

Although the General Directorate of Statistics and Censuses in Buenos Aires has already revealed the increase in the basic baskets for the eighth month, next Wednesday, the INDEC will announce the increase at the national level, according to the price index in the same period.

Fruits and vegetables were among those that had the most increases.

Even so, it is expected that the values will not be very distant from those revealed in the City, since the rise in prices was constant throughout the month of August, especially for food.

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