The Total Basket (CT), which classifies the fragile middle sector, the middle class and the wealthy sectors, according to the Buenos Aires statistical agency, stood at $1,071,801.
In May 2024, a typical family in the City of Buenos Aires needed at least $1,339,751.45 to be considered middle class and $860,100 to not fall below the poverty line.
To avoid destitution, a minimum income of $486,068 was required, according to the General Directorate of Statistics and Censuses of Buenos Aires. The Basic Food Basket (CBA), which defines the indigence threshold, increased 4.04% compared to the previous month, aligning with the City’s inflation, which was also 4.04%. In year-on-year terms, the CBA grew by 286.7%, exceeding the year-on-year inflation of 280.9% by almost six percentage points.
Regarding the Total Basic Basket (CBT), which establishes the poverty limit, The monthly increase was 4.15%, in line with CABA’s general inflation. On a year-on-year basisthe increase was 286.39%, exceeding the general index by 5.8 percentage points.
May 2024.jpeg
This increase of 286.39% in interannual terms implies that, in order not to be considered poor in the Buenos aires cityyou need to win $637,499 more than in May 2023.
The Total Basket (CT), which classifies the fragile middle sector, the middle class and the wealthy sectors, according to the Buenos Aires statistical agency, stood at $1,071,801. This amount represented a monthly increase of 5.96% and a year-on-year increase of 291.09% compared to April 2023.
The calculation is based on a household made up of a 35-year-old couple, both economically active and homeowners, with two children aged 9 and 6.
Socioeconomic levels according to income
- Indigence: Households with monthly income less than $486,068.05, not enough to cover the Basic Food Basket (CBA).
- Non-indigent poverty: Households with monthly income between $486,068.06 and $860,099.70, enough to cover the CBA but not the Total Basic Basket (CBT).
CBA May.jpeg
- Not vulnerable poor: Households with monthly income between $860,099.71 and $1,071,801.15, reaching the CBT but not the Total Basket (TC).
- Fragile middle sector: Households with monthly income between $1,071,801.16 and $1,339,751.44, reaching the TC but not 1.25 times the TC.
- Middle sector “middle class”: Households with monthly income between $1,339,751.45 and $4,827,204.63, reaching at least 1.25 times the TC but not 4 times the TC.
- Affluent sector: Households with monthly income of $4,827,204.64 or more, reaching 4 times or more the TC.
Source: Ambito
