A family needed $269,055.56 in February to be considered “middle class” in the Autonomous City of Buenos Aires.
For the calculation, a household made up of a couple is considered 35-year-old man and woman both economically active and homeowners, with two male children aged 9 and 6, according to information from the Buenos Aires government’s General Directorate of Statistics and Censuses.
In order not to fall into poverty, that family needed $175,080 according to the Total Basic Basket (CBT) that defines the poverty line, while in order not to be indigent they must have had an income greater than $98,186, according to the Basic Food Basket (CBA) index.
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For his part, the Food Basket was $104,214while the Total Basket was located at $215,244.
In February, inflation reached 6%, in the first two months of the year it accumulated a rise of 13.7%. Thus, it registered an interannual variation of 103.1%.
According to the official document, this value of the Consumer Price Index occurred as a consequence of the increases in: Housing, water, electricity, gas and other fuels, Food and non-alcoholic beverages, Restaurants and hotels, Health and Recreation and culture.
How households are classified according to income in CABA
- Indigence situation: Households whose total monthly income is not enough to cover the Basic Food Basket (CBA – Indigence Line).
- Non-indigent poverty status: Households whose total monthly income is not enough to cover the Total Basic Basket (CBT – Poverty Line) but allows at least to acquire the CBA.
- Non-vulnerable poor: Households whose total monthly income is at least the CBT and does not reach the Total Basket (TC) of the Consumption Basket System.
- Medium fragile sector: Households whose total monthly income is at least the TC and does not reach 1.25 times the TC of the Consumption Basket System.
- Middle sector “middle class”: Households whose total monthly income is at least 1.25 times the TC and does not reach 4 times the TC of the Consumption Basket System.
- Affluent sector: Households whose monthly income is 4 times or more the TC of the Consumption Basket System. People are classified according to the stratum to which the household belongs.
LM
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