Friday, December 1, 2023

How much money do you need to earn to be middle class and not poor?

The change in the cost of the Total Basic Basket (CBT) during October 2023 is 8.1%, which accumulates 147.1% per year, and an income of more than 345 thousand pesos is needed to not be poor in Argentina, according to the report of INDEC.

Meanwhile, the Basic Food Basket (CBA) increased by 8.6% compared to September and reached 158.6% in the last twelve months, more than the general inflation of 142.7%, indicating that for a typical family that does not fall into poverty, they would have received more than $160,603 pesos in October.

In this way, the interannual increase in baskets that measure indigence and POVERTY Both are above the overall index. In the tenth month of the year, a basic food basket was priced at $51,975, while the total basic basket was $111,746.

So far this year, the food basket, which defines the indigence threshold, has accumulated 139%, while the general basic basket, which defines poverty, reaches 126.4%, both of which are higher than the accumulated general inflation, which is at 120%.

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The Basic Food Basket for a typical family of two adults and two children is available in October for $160,603. According to INDEC measurements, with this monthly amount, the necessary kilocalorie and protein regulatory requirements can be met, and those who do not exceed this amount are in poverty.

Meanwhile, the poverty limit is provided by the Total Basic Basket, which in October was worth $345,295 for that family.

According to INDEC, for a family of three owners of the houses they occupy, the cost of CBT is reached in October at $274,895, and for a family group with five members, the amount will increase to $363.175.

In the case of CBA, a family with three members, in order not to fall into poverty, must have a monthly income of $127,858, while for one in five, the cost has increased to $168,919.

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In October, a typical family in the City of Buenos Aires must receive an income of at least $537,400 to be considered middle class and $350,579 to avoid falling below the poverty line.

How much does a CABA family need to avoid homelessness?

While in order not to be poor, at least $199.129 The values ​​come from survey data distributed by the General Directorate of Statistics and Censuses in Buenos Aires.

In this way, the expenses of the Basic Food Basket (CBA), which marks the limit of indigence, increased by 7.61% compared to the previous month, below the inflation of the time when the city reached 9.4%. Meanwhile, the accumulated figure for twelve months reached 160.55%, higher by 14.15 percentage points than the 146.4% of the interannual inflation measurement. The basket increased by $14,085 from September to October.

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Regarding the Total Basic Basket (CBT), which establishes the poverty ceiling, the monthly increase is 8.78% (compared to September), a few tenths below the general inflation of CABA and the interannual inflation of 152.84%, as in CBA above in the general index, in this case of 6.44 percentage points.

This 152.84% year-on-year, translated into pesos, means that, in order not to be poor, in the City of Buenos Aires, you must earn $211,922 more in October 2022.

The Total Basket (CT), which in different proportions limits the weak middle sector, the middle class, and the rich sectors, according to the stratification made by the Buenos Aires statistical organization, is $429,920 and increased 9.4% in the month and 152,83% compared to October 2022.

Nation World News Desk
Nation World News Desk
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