Argentina’s poverty rate reached 57.4% in January according to a new report by the Argentine Catholic University’s respected Social Debt Observatory. It’s the highest poverty number since 2004, when the observatory began publishing reports, amid widespread economic deregulation and price hikes. “Our perspective is that this will keep getting worse in February,” the observatory’s Director Agustín Salvia told the Herald. A family is considered to be in poverty if they earn less than the basic food basket plus services, known as the total basic basket. The minimum wage, which defines who receives certain social benefits, currently sits at AR$156,000 a month while the total basic basket for a single adult reached AR$193,000 in January, according to INDEC’s latest report.

Source: Bueno Aires Herald February 19, 2024 10:53 UTC