The Total Basic Basket (CBT), which marks the poverty line, rose 3.56% monthly. The Basic Food Basket (CBA), which defines the level of indigence, increased 2.64%.
A family typewhich includes two adults and two minors, in the Autonomous City of Buenos Aires (CABA) needed income of at least $1,501,818 to be considered middle class during Augusta .
In the meantime, in order not to be under the poverty linea home required $966,227.69 and, to avoid the poverty linethe required level was at least $536,492.74, According to data that emerged from the report of the baskets that produces the Institute of Statistics and Census of the City of Buenos Aires (IDECBA).
Consumer baskets rose below inflation
The Total Basic Basket (CBT)which marks the poverty line, climbed 3.56% monthlyabout $51,758.41 more than in July and was positioned below the Inflation in Buenos Aires (4.2%); while the interannual variation was located at 245%surpassing the CPI (243.1%).
For its part, the Basic Food Basket (CBA)which defines the level of indigence, increased 2.64% in the eighth month of the year, about $14,940 more than the previous month, while the interannual figure was 243.3%.
For the Buenos Aires City government, a typical family consists of a 35-year-old woman and a 35-year-old man, both economically active and owners of the home where they live, with two sons aged 9 and 6.
It should be noted that this study does not include the cost of rent in the statistical equation of the baskets, so if the family does not own a home, this amount should be added to the result of the value of the CBA and the CBT.
Baskets: what income should a family have by socioeconomic level in CABA
In short, this is how the categories are defined:
- In situation of indigence: are those households whose total monthly income is not enough to cover the Basic Food Basket (CBA – Poverty Line). In August, income ranges from $0 to $536,492.74.
- In non-indigent poverty situation: are those households whose total monthly income is not enough to cover the Total Basic Basket (CBT – Poverty Line), although it allows at least to acquire the CBA. The income for this level should have been between $536,492.75 and $966,227.69.
- No vulnerable poor: are those households whose total monthly income is at least the CBT, although they do not reach the Total Basket (CT). These families should have received between $966,227.69 and $1,201,454.67.
- Fragile middle class: Households whose total monthly income is at least the CT, but does not reach 1.25 times of this basket. The income of these families is between $1,201,454.67 and $1,501,818.34.
- Middle class sector: Households whose total monthly income is at least 1.25 times the CT and does not reach 4 times this basket. Receiving between $1,501,818.34 and $4,805,818.71.
- Wealthy Sector: are those households whose monthly income is 4 times or more the CT, that is, $4,805,818.71 or more.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
