The Basic Foods Basket, CBA, an index from Argentina’s Foundation for Latin American Economic Research (FIEL) increased 0.6% in July compared to the previous month, 21% in the first seven months of the year, and 35.9% over a year ago.
FIEL, a renowned economic think-tank in Latam also elaborates the Basic Total Basket, (CBT) index, which helps to determine the level of poverty and according to available data increased 1.7% in July and 14.2% in the first seven months of 2010 and 24.5% in the last twelve months.
CBA (mainly food cost) helps determine the line of indigence in Buenos Aires City for a household of four and in June was established at 1.020 Argentine Pesos which at the exchange rate of 3.95 is equivalent to 258 US dollars including the 0.6% increase.
This means each adult needs 330 pesos (84 US dollars) to satisfy its food necessities.
CBT (food plus services) on the other hand established the poverty line for a household of four and was equivalent to 1.939 pesos, or the equivalent of 490 US dollars.
Per adult CBT works out at 627 pesos or 158 US dollars.