Index The basket that measures poverty rose 308.2% in one year

The cost of the Total Basic Basket (CBT), which measures the poverty line, increased 304.4% in the last twelve months, above inflation (287.9%). In the case of the cost of the Basic Food Basket (CBA), which measures the so-called “indigence line”, the increase was 308.2% in the same period, the National Institute of Statistics and Censuses (Indec) reported this Friday. .

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A household of four members needed $773,385.10 to overcome the poverty line in March 2024: 11.9% more than the previous month and 304.4% year-on-year https://t.co/Uh7ZCw46T9 pic.twitter.com/NMnsONMXEw

— INDEC Argentina (@INDECArgentina) April 12, 2024

In this way, a household made up of two adults and two minors needed $773,385 in March to not be poor, according to the parameters measured by Indec. Compared to last month, the increase in the CBT was 11.9%. Meanwhile, $358,049 was required for this household of four members to avoid falling into destitution, with an increase in the CBA of 10.9% compared to February. In this way, the Food Basket remains above the Minimum, Vital and Mobile Wage ($202,800 as of March).

The basket prepared by Indec does not include all the needs of a family to make ends meet; For example, it excludes rental expenses. Meanwhile, the Internal Board of Ate Indec calculates a minimum consumption basket that reached $1,163,391 in March. According to the organization’s workers, no worker should earn less than that amount.

This Friday, Indec announced March inflation, which was 11%, that is, it remained at high levels.

The purchasing power of wages collapsed in recent years, and under the Milei government the deterioration deepened. According to calculations by Luis Campos, coordinator of the Social Law Observatory of the autonomous CTA, the salary of registered workers (RIPTE) has accumulated a drop of 19.2% compared to November and 24.7% compared to February of last year.

It is urgent to emergency increase for employed workers, retirees, and social programs to recover everything lost. That no worker earns less than what a basic basket costs ($773,385), on the way to achieving a minimum wage equal to the family basket that Indec workers calculate at $1,163,391.