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December monthly budget surges 6%

by Staff reporter
07 Jan 2022 at 05:52hrs | Views
ZIMBABWE'S average Total Consumption Poverty Line (TCPL), monthly expenditure needs, for an individual surged 6 percent to $8 008 in December 2021, the Zimbabwe National Statistics Agency (Zimstat) says.

Importantly though, it should be taken into account that Zimbabwe's monthly consumer price inflation surged by 5,8 percent, exactly the same margin by which prices increased the prior month.

According to ZimStats, the TCPL represents the least amount of money an individual or family needs to cover their food, rentals, clothing, and other essentials.

Last month's TCPL figure was, however, recorded when Zimbabwe was going through a rampant and at times unjustified increase in prices.

The period usually sees speculators and unscrupulous business practices, as traders seek to capitalise on the high spending usually associated with the festive season.

Notably though, the Total Consumption Poverty Line may differ from place to place as prices vary across the country.

Mashonaland Central concluded the year as the most expensive province in the country, as its individual TCPL stood at $9 046  month of December.

Mashonaland East and Matabeleland North were the second and third most expensive provinces in the country as their total individual consumption requirements stood at $8 928 and $8 793 respectively.

Matabeleland South was the least expensive province with a total consumption line per person of $6 775 while the Midlands' was  $7 354 for the monthly needs.

Bulawayo was the more expensive of Zimbabwe's two metropolitan provinces with a TCPL of $8779, compared to Harare's $8 025 needed to meet individual requirements for a month.

On the flip side, Zimbabwe's average Food Poverty Line (FPL) for an individual grew by 6,2 percent to $5 761 in December from November‘s $5 423.

ZimStats defines Food Poverty Line as the amount of money that an individual will need to afford the minimum required daily energy intake of 2 100 calories.

Matabeleland North was the most expensive in this segment trailed by Manicaland as the provinces needed $6 324 and $6 316 respectively for monthly food needs for an individual.

Matabeleland South proved to be the least expensive province in the country, as it recorded an FPL of $4 540.

With an FPL of $5 290, Mashonaland West was the second cheapest province in the country in the month of December.

At $5 863, Bulawayo was again the expense of the two metropolitan provinces as Harare's FPL for the month of December stood at $5 310.

The Poverty Datum line represents the cost of a given standard of living that must be reached if a person is to be considered not poor, and an individual whose total consumption expenditure does not exceed the Food Poverty Line is deemed to be very poor.

Source - The Herald
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