A family in Buenos Aires City needed at least AR$191,000 in March (US$864 at the official rate, US$479 at the MEP dollar rate) to not be considered poor, according to figures released by the City Government’s General Directorate of Statistics and Census. The figure does not include rent.

A family of four is considered to be poor if they earn less than the basic food basket plus services, known as the total basic basket. They are considered “destitute” when their monthly income is less than the basic food basket.

The value of the basic food basket for March was AR$107,836 — a 9.8% increase from February — while the total basic basket was worth AR$191,241. The year-on-year increase for the basic and total food baskets was 117% and 111% respectively. 

The larger increase in the basic food basket is due to the larger relative weight of food prices. The price of food and non-alcoholic drinks in the city increased by 9.1% in March.

When it comes to the total food basket, the city’s statistical analysis does not include rent because it supposes that the family unit owns the property in which they live. 

A child-free couple who do not own their home needed AR$128,085 to escape poverty and AR$65,409 not to be considered destitute.

To make it into the middle class, a family needs to be earning at least AR$235,140, the figures showed. 

Prices in the capital have risen by over a fifth this year so far. March saw a city inflation rate of 7.1% and a national rate of 7.7%  — the highest monthly figure since April 2002. 

—Herald/Agencies