International nonprofit Unbound and Mesoamerican Centre for Theoretical Physics (MCTP), a UNESCO Category 2 Center, have partnered to measure how inflation affects those living in poverty. The Unbound® Basic Needs Price Index™ will be the first measurement to provide critical financial data that is truly impacting women, children and families living in poverty, which is currently not being tracked by other standard economic indexes.
“An important benefit of this research is the amplification of the voice of people living in poverty and to provide critical information that will drive policy decisions,” says Daniel Pearson, Unbound chief international program officer. "Historically, there has been a void in gathering the data that provides a true picture of people living in poverty. Our Unbound Basic Needs Price Index methodology will give greater voice to the people we serve.”
This unique gathering of data on daily goods and services will be provided by families in the Unbound programs. This new index provides a more robust measurement by including purchases directly from farmers, bartered goods and services, which are not captured in other economic indexes. MCTP will conduct rigorous multidisciplinary analysis and monitor economic conditions and behavior changes over time. The Unbound Basic Needs Price Index aims to share reports every six months with baseline results expected in fall 2023.
May 26, 2023 | Press Release
Unbound® Basic Needs Price Index™ Launched as First Measurement to Understand Impact of Inflation on Those Living in Poverty
Unbound and UNESCO-Mesoamerican Centre for Theoretical Physics Partner to Track Daily Goods and Services Consumed by a Specific Population
Manuel Portela, international finance director of Unbound, Dr. Eli Santos, assistant general coordinator of the MCTP and William Jose Rodriguez Sarazua, of Unbound, display the agreement between Unbound and UNESCO-MCTP, to utilize the Unbound® Basic Needs Price Index™ to measure how inflation is affecting families living in poverty.
"The alliance with Unbound will strengthen the strategic presence of MCTP to fulfill its mission of stimulating science and development in populations in need,” said Eli Santos Rodriguez, assistant general coordinator of the MCTP.
Unbound provides economic support to families through child and elder sponsorship. This new methodology and data will provide Unbound a better understanding of the impact of direct cash benefits to local families served by Unbound.
MCTP and Unbound are piloting the project in Chiapas, Mexico, where Unbound serves over 7,300 sponsored friends and their families. The study will be expanded in the coming years to include Central America and the Caribbean, South America, Africa and Asia.
In the main image: Alfonso Fuentes Soria, former United Nations representative; Dr. Eli Santos, assistant general coordinator of the MCTP; and Manuel Portela, international finance director of Unbound; join staff and leadership of Unbound and MCTP to celebrate the partnership of Unbound and UNESCO-MCTP to utilize the Unbound® Basic Needs Price Index™ and produce more effective approaches to poverty reduction.
