Poverty line up 4.4% in October
Harare, (New Ziana) – Zimbabwe’s poverty datum line (PDL) for a family of five jumped 4.4 percent to $18 750 in October as the cost of living continues to go up on the back of inflationary pressures, latest data released by the Zimbabwe National Statistics Agency (Zimstat) shows.
The PDL is the minimum amount of money that a family requires for food and other essential requirements for them not to be deemed poor.
“This means that an average household required that much to purchase both food and non-food items for them not to be deemed poor,” Zimbabwe’s official data provider said.
“This represents an increase of 4.4 percent when compared to the September 2020 figure of $17 956.87.”
Zimstat said one person required $1 521 for food alone and $3 750 for food and other essential needs.
Month-on-month inflation in October stood at 4.37 percent, after jumping from 3.83 percent the previous month, while annual inflation was 471.25 percent, down from 659.40 percent in September.
The slowdown in inflation has been largely attributed to stability in the country’s exchange rate since the introduction of the foreign currency auction system in June.
The continued rise in the cost of living comes against low wages and salaries especially at a time companies continue to battle for survival after the first wave of the Covid-19 pandemic in Zimbabwe.