MercoPress. South Atlantic News Agency
Basic Foods’ Basket in Argentina increased 35.9% in twelve months
CBA and CBT help to measure indigence and poverty in Buenos Aires City 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.
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Read all commentsBasket case
Aug 10th, 2010 - 12:49 pm 0Never mind. They're all getting a 22% pay increase. Funded by their government not paying its debts.
Aug 10th, 2010 - 01:30 pm 0The election is pretty far away so, if inflation wad (yoy) 20% last yr and its already tracking at 35% this year wonder what it will be next year? I get 61%. That sounds fun. Wonder how Ks will stop it or if it will stop on its own. In 1989 the yearly inflation rate was 5000% no wonder no one cares about 35% hahahahaha.
Aug 10th, 2010 - 02:50 pm 0Commenting for this story is now closed.
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