MercoPress. South Atlantic News Agency

Ten per cent of Argentines live on 4 US dollars per day

Argentina's poorest, ten per cent of the population live on less than four US dollars per day while on the other extreme half a million households can dispose of 220 US dollars per day according to a report from a private consulting firm released this week.

However CCR consultants from Buenos Aires also point out that the poorest 10% of the population trebled its income between 2002 and 2007, from 36 US dollars per month to 120 US dollars, while the 10% richest, jumped from 1.200 US dollars to 2.300 US dollars, almost double. As to the 5% richest Argentines, half a million households, their medium monthly income is 7.000 US dollars. The CCR report also compared some interesting indexes referred to luxury goods. In 2005 the total number of luxury cars sold, with a unit price above 30.000 US dollars, was 4.860 and this year jumped to 9.360 units. Plasma screen television sets sold jumped from 15.000 to 100.000; construction permits for expensive residences (172.000 to 341.700 US dollars) doubled from 1.109 to 2.208 and very expensive manors (884.500 to 1.224.700 US dollars) increased from 5.715 to 7.913. The average consumption of a high bracket household with an average income in the range of 7.000 US dollars per month spends 4.500 US dollars and saves the rest, according to the CCR report. The Argentine population is estimated in 40 million.