Although the report shows a decline in recent months, the average for the first half of the year reveals that more people are poor in Argentina.
Prior to the official indices being known, National Institute of Statistics and Census (INDEC), A private university revealed that the poverty in Argentina reached the 50.5% of the population during the first half of 2024 and affects more than 23,175,000 people across the country.
The index was compiled by the Torcuato Di Tella University (UTDT)which is supported by quarterly information from the Total Basic Basket (CBT) of the INDECIts methodology is updated every month and the estimate is based on the projection of the structure of the labor market.
“For the average total family income (ITF)) a year-on-year increase of 214.8% was projected for the semester. With this data and the simulation of the microdata of the Permanent Household Survey (EPH) The poverty rate was projected for the first and second quarters of 2024,” the institution explains. Consequently, the average projection of the number of poor people of 52.6% during the period between January and March and 48.5% between April and June generate a half-yearly percentage of 50.5% of the total population.
Later in the report they reveal that “the projection suggests that Around 50% of people live in poor urban householdsThe EPH is a representative survey of an urban population that in the reference semester was estimated at 29.3 million people, which implies that around 14.8 million live in poor urban households.”
In June, a family needed more than $870,000 to avoid being poor
The cost of the total basic basket (CBT)which is used as a threshold for measuring poverty, grew by 2.6% in June, which meant the lowest monthly variation since November 2021. With this increase, A “typical” family needed 873,169 to not be considered poor.
In parallel, the basic food basket (CBA)which marks the poverty line, rose just 1.6%the lowest number since June 2020, when demand was severely depressed by the quarantine decreed following the Covid-19 pandemic.
Thus, according to official data published this Friday by INDEC, a family consisting of a 35-year-old man, a 31-year-old woman, a 6-year-old son and an 8-year-old daughter, required $393,319 to avoid falling into poverty.
Source: Ambito
