Averting Poverty Is Getting Harder in Argentina

Between January and February the price of basic foodstuffs rose by 13.5%, and the CPI by 8.8%

Photo: Diego Levy
March 22, 2022 | 08:15 PM

Buenos Aires — An Argentine family comprising two adults and two minors needs an income of 37,413 pesos ($340) to buy the minimum amount of food and avoid falling into poverty, according to the country’s statistics bureau INDEC. Between February 2021 and the same month of this year, the basic food basket accumulated an increase of 52.2%, while the total basic food basket increased 44.5%.

The basic food basket increased by 9% in price in February, while the total basket increased by 6.6% during the month, meaning the same family of four would require an income of 83,807 pesos ($761.36) to avoid falling below the poverty line.

In the first two months of 2022, the basic food basket accumulated an increase of 13.5%, while the total basket price rose by 10.1%.

  • How much is that in dollars? At the blue dollar rate of the last working day of February, a typical family needed $397 to avoid being poor (total basket) and$177 to avoid being indigent (basic basket).
  • How much was it in 2021? At the blue dollar of the last business day of December, a typical family needed $366 in the last month of 2021 to avoid being poor, and $158 to avoid being indigent.
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Consumer Price Index

In February, the Consumer Price Index (CPI) stood at 4.7%, one of the highest monthly records in recent times, while the food and non-alcoholic beverages category had the highest increase at a national level, rising by 7.5%.

The transportation category registered a 4.9% monthly increase, driven by a 9% adjustment in fuel prices, while home equipment and maintenance prices rose by 4.4% during the month.