News / Local
Zimbabwe cost of living spikes again
29 Mar 2021 at 06:25hrs | Views
THE cost of living for an average family of five shot to $26 560 this month, from $25 900 in February, following a price rage that has defied a range of measures lined up to avert a crisis, data from the Zimbabwe National Statistics Agency (ZimStat) has indicated.
ZimStat said a Zimbabwean consumer required $5 312,19 in March to stay above the poverty datum line, now called the Total Consumption Poverty Line (TCPL) by the agency. This figure was $5 187,31 in February.
ZimStat has abandoned reporting the TCPL based on a family of five.
In line with international standards, the agency now focuses on individual data.
"The Total Consumption Poverty Line for Zimbabwe stood at $5 312,19 per person in March 2021," the agency said in a statement on Friday.
"This means that an individual required that much to purchase both non-food and food items as at March 2021 in order not to be deemed poor. This represents an increase of 2,4% when compared to the February 2021 figure of $5 187,31," ZimStat said.
The Food Poverty Line (FPL) for one person in March 2021 was $4 033, representing an increase of 2,5% over the February 2021 figure of $3 934,21, according to the statement.
Food poverty is lacking the means to obtain enough food to live a healthy life.
People living in food poverty have an income or expenditure that is less than the amount needed to consistently afford a basket of food with minimum recommended nutritional intake.
Experts say people living below the FPL are in danger of malnutrition, disease or ill health.
Friday's data demonstrates that Zimbabwe economic crisis was spiralling out of control, with the majority of people including many professionals and State employees at risk of malnutrition because they earn far less than the $26 500 required to stay above the TCPL.
Private sector workers have been affected by a rapidly shrinking consumer base due to de-industrialisation and job losses.
Firm closures triggered by the outbreak of COVID-19 last year have compounded the crisis.
ZimStat said the TCPL varied by province as prices varied from place to place.
The cost of living has been soaring since last year.
It was measured at $17 244 last August before rising further to close the year at $23 350.
In January, it was $24 935, heightening fears of rising poverty levels in Zimbabwe.
This is happening at a time when Zimbabwe's annual rate of inflation for February 2021 declined to 321,59% from 362,63% in January 2021.
ZimStat said a Zimbabwean consumer required $5 312,19 in March to stay above the poverty datum line, now called the Total Consumption Poverty Line (TCPL) by the agency. This figure was $5 187,31 in February.
ZimStat has abandoned reporting the TCPL based on a family of five.
In line with international standards, the agency now focuses on individual data.
"The Total Consumption Poverty Line for Zimbabwe stood at $5 312,19 per person in March 2021," the agency said in a statement on Friday.
"This means that an individual required that much to purchase both non-food and food items as at March 2021 in order not to be deemed poor. This represents an increase of 2,4% when compared to the February 2021 figure of $5 187,31," ZimStat said.
The Food Poverty Line (FPL) for one person in March 2021 was $4 033, representing an increase of 2,5% over the February 2021 figure of $3 934,21, according to the statement.
Food poverty is lacking the means to obtain enough food to live a healthy life.
People living in food poverty have an income or expenditure that is less than the amount needed to consistently afford a basket of food with minimum recommended nutritional intake.
Friday's data demonstrates that Zimbabwe economic crisis was spiralling out of control, with the majority of people including many professionals and State employees at risk of malnutrition because they earn far less than the $26 500 required to stay above the TCPL.
Private sector workers have been affected by a rapidly shrinking consumer base due to de-industrialisation and job losses.
Firm closures triggered by the outbreak of COVID-19 last year have compounded the crisis.
ZimStat said the TCPL varied by province as prices varied from place to place.
The cost of living has been soaring since last year.
It was measured at $17 244 last August before rising further to close the year at $23 350.
In January, it was $24 935, heightening fears of rising poverty levels in Zimbabwe.
This is happening at a time when Zimbabwe's annual rate of inflation for February 2021 declined to 321,59% from 362,63% in January 2021.
Source - newsday
