A typical family of four members needed $900,647.65 in order not to be poor in July, INDEC said on Wednesday. The agency released the data simultaneously with the inflation index for the seventh month of the year, which yielded 4%.
In addition, a Family needed $405,697 to avoid being destituteaccording to the organization led by Marco Lavagna.
This way, The total basic basket (the index used to measure poverty) suffered an increase of 3.1% compared to the previous month and accumulated a year-on-year increase of 261.8%. Meanwhile, the basic food basket also rose 3.1% compared to June and the year-on-year variation is 263.4%.
Inflation slowed down, but was higher than expected by the market and the Government
Inflation slowed to 4% in July but failed to break through the floor expected by the government, according to the INDEC report. Prices have risen by 87% so far this yearaccording to official information. In the year-on-year comparison, the price increase reached 263.4%.
The Ministry of Economy highlighted the third consecutive slowdown in the interannual measure. “It is worth noting that general inflation, in addition to being the lowest of the year, was the lowest since January 2022.”he indicated.
Economy said that “The analysis of the moving averages of the variations in the National CPI in recent months is consistent with a deepening of the disinflation process.” “The three-month moving average of the variation in the National CPI was at its lowest level since February 2022, and was more than three points lower than the six-month moving average. This latter indicator is already the lowest since July of last year,” he stressed.
The division with the highest increase in the month was Restaurants and hotels (6.5%) and Alcoholic beverages and tobacco (6.1%) due to the increase in cigarettes. This was followed by Housing, water, electricity and other fuels (6.0%) due to increases in Housing rent and related expenses and Water supply.
The division with the highest incidence in all regions -except in the Northeast- It was Food and non-alcoholic beverages (3.2%), where the increases in Fruits and Vegetables, tubers and legumes stood out. In the Northeast region, the highest incidence was in Housing, water, electricity and other fuels (6%) due to increases in Electricity, gas and other fuels, Housing rent and related expenses and Water supply.
Source: Ambito
