Poverty increases in Argentina after a year of record inflation

First modification: 03/31/2023 – 12:13

The figures were made public by the Argentine Institute of Statistics. According to the organization, poverty reached 39.2% of the population in Argentina at the end of 2022, which represented an increase of almost three points compared to the index of 36.5% in the first half of last year.

On the contrary, the indigence index fell from 8.8% in the first semester of 2022 to 8.1% in the second semester, according to the household survey carried out by INDEC in the 31 main urban conglomerates.

In Argentina, the poverty line is established in relation to household income with respect to a basic basket of goods and services. Indigence is determined based on a food basket.

The increase in poverty in the country is closely linked to the rise in inflation, which last year closed at 94.8%, a record in more than 30 years.

The basic food basket for a family of four was established last February at about 80,000 pesos (about $370, at the official exchange rate), the same amount that the minimum wage will reach in April.

The total basic food basket for a four-person household amounted to 177,000 pesos (around $820) in February, according to INDEC.