Poverty and Destitution Rates Fall in Buenos Aires
In a new study of the the Buenos Aires Statistics Agency, poverty and destitution rates have fallen since last quarter and in comparison to the same quarter in 2016.
According to the study, in the first quarter of 2017, over 10 percent of households in the city did not make enough money to afford a Basic Basket of Goods, or the goods and services considered basic and necessary to acquire to avoid living in poverty. A Basic Basket of Goods for a family of four cost AR$ 14,600 as of March of this year, representing a 3.3 percent drop in relation to the last quarter of 2016, and a 2.1 percent drop compared to the same quarter of 2016.
The study highlights the fact that over 55 percent of households were considered middle class while almost 18 percent were considered upper class. The remaining percentage of households outside of these categories, while still not living in poverty, were described as either “fragile middle sectors” or “non-poor but vulnerable”.
“In the first quarter of 2017 there were inter-annual increases in the households’ income, which, in parallel to more moderate price increases, improved poverty rates,” the report concluded.