The basket of basic foods, through the roof: increased 6% in October
The basic food basket – which sets the poverty line – received the full impact of the inflationary jump in October: it increased 6%. It went from $ 24,229 in September to $ 25,698 in October, almost $ 1,500 in a month, for a married couple with two children.
The 3.8% inflation in October was driven by increases in food prices, especially staples, such as fruits, vegetables, chicken, rice, herb and bread. And it hit directly in the food basket of the poorest sectors, the indigent, according to data from the Department of Statistics and Censuses of the City of Buenos Aires.
As the rise in food prices was almost constant in recent months, exceeding average inflation, in relation to a year ago, the poverty basket accumulated an increase of 47.4%, well above the interannual inflation of the INDEC, which yielded 37.2%. Thus, it is repeated and confirmed that inflation hits the poorest sectors the most.
The indigence basket is made up of basic foods that, for the most part, increased their prices the most in October according to INDEC, such as potatoes (34.2%), apples (31.6%), oranges (12.6%) , sweet potato (11.1%), sunflower oil (8.8%), chicken (8.5%), yerba (5.1%), water crackers (4%), French bread (3.8% ) and roast (3.6%).
The INDEC data, which are in line with those of the Buenos Aires Directorate, will be released next Tuesday and could yield higher values because while the Buenos Aires Directorate reported that in October, on average, food prices increased by 4% , to INDEC the measurement of Capital and GBA gave 4.8%.
Meanwhile, the total basic basket or “poverty” of Buenos Aires that, in addition to food, includes other items but not the rent of housing increased 4.4% and accumulates a rise of 38.9% in 12 months. In order not to be poor, a typical Buenos Aires family needed to have an income of more than $ 49,224 in October, against 47,169 in September, $ 2,055 more.
For INDEC, in September, the family poverty basket was $ 47,215.97, which would suffice for it to have increased by 5.9% in October to reach $ 50,000, something that will be known next Tuesday.
By not including rent, the basic Buenos Aires basket for a family that rents is around $ 70,000. According to the survey of the Buenos Aires Directorate, the lowest rent for a used two-room apartment (43 m2) was $ 19,770 in the third quarter of this year.
All these data indicate that indigence and poverty would jump again. For this reason, the Government would implement extraordinary aid, such as the increase in the amount of the food card anticipated by the Minister of Social Development or bonds that partially compensate the deactivation of the IFE.