An Argentine standard family of two adults and two children needed the monthly equivalent of US$ 664 or US$ 380 (depending on the official or free money exchange market) to be considered above the poverty line during the month of June. July figures will be released in fifteen days.
The reference for such categorization is the so called Total Basic Basket, CBT, which during June increased 3,2% equivalent to the monthly inflation, after it had climbed 2,4% in May.
On the other hand the so called Basic Food Basket, CBA, which marks the indigence borderline was 3,6% up in June, totaling the equivalent of US$ 285 or US$ 162 (according to the official and free market quotations). This means an Argentine family to not be considered indigent had to make more than the above sums.
It must be taken into account that the Minimum Salary in Argentina is the equivalent of US$ 272 and US$ 151 (based on the two exchange rates), which is below the CBA indigence reference.
In the last twelve months the poverty standard increased 51,8%, while that of the Basic Food Basket, 57,6%. Inflation or the Consumer Prices Index in the same period of time jumped 50,2%. In the first half of 2021, CPI reached 25,3% while the CBT, 25,3% and CBA, 22,7%.
However these sums are incomplete since for example they do not take into account the cost of renting, which according to a 2018 survey from the official stats office Indec, 20% of Argentines are tenants. The percentage jumps to above 35% in the City of Buenos Aires.