Javier Milei begins another visit to the United States on Wednesday, his 20th trip since being elected president of Argentina and his fifth this year alone. He will remain in Washington, D.C., until Friday, taking part in a series of events aimed at deepening his alliance with the Donald Trump administration and demonstrating his support for Israel.
An Argentinian family of four now needs 1,632,505 pesos ($1,057) to avoid being considered poor, according to the National Institute of Statistics and Censuses (Indec).
To avoid falling into indigence, the same family requires at least 738,690 pesos ($478), according to the total basic basket (CBT) and basic food basket (CBA) figures in Indec’s most recent report.
So far this year, the CBT grew 24.7% and the CBA 25.3%, both above accumulated inflation of 23.6% through September, when it rose to 1.9%, according to the report. Year-on-year, the CBA rose 38.7% and the CBT 40%, both above the 33.4% year-on-year inflation, the report said.
Julián Neufeld, an economist at the Fundación Libertad y Progreso cited by the newspaper Perfil, said the prices that weigh most heavily on lower-income households “have been rising above the general index, and that erodes purchasing power precisely in the most exposed segment.”
Neufeld explained that since wages adjust by the Consumer Price Index when collective labor agreements allow, and poverty levels are set by the baskets, a substantial inflation gap between the two strongly conditions poverty and indigence levels, he said.
According to the economist, in the first half of this year, with the inflationary shock concentrated in meat and fuels—goods with great weight in the baskets—these rose above the general level, pushing many families below the poverty line, he said.
🥬 Las verduras aumentaron 23,8% en septiembre en el Mercado Central y más que duplicaron su precio en un año
Un informe del Centro de Economía Política Argentina (CEPA) reveló una fuerte aceleración en los precios mayoristas de las hortalizas durante septiembre: la canasta… pic.twitter.com/iiDBCfzgh8
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