Zimbabwe National Statistics Agency (Zimstat) has just released data indicating an increase to almost zwl100 000 needed for only one person.
“The Total Consumption Poverty Line (TCPL) for Zimbabwe stood at $99,545.95 per person in July 2023. This translated to an individual needing that much to purchase both non-food and food items as at July 2023.
“This represents an increase of 9, 2% when compared to the June 2023 figure of $91,171.62,” said Zimstat.
In spite of the high costs of living, the rates were much lower compared to previous months.
This development comes on the back of the economy’s swift response to the policy measures employed by the monetary and fiscal authorities in a bid to ease price hikes in a development that has seen the value of the Zimbabwean dollar ZWL recovering.
In light of this, poverty datum lines vary by province as prices vary from place to place as explained by differences in average prices in the provinces.
“The quantities of commodities consumed at base year in the minimum needs a basket which is consistent with the preferences of the poor individuals and households in Zimbabwe are fixed. The variations in the value of the basket are explained by changes in average prices,” added Zimstat.
Also now if you multiply that individual amount times six, a family of six now requires ZW$597 275,70 to meet basic needs and monthly living costs.
In this latest data from the statistics organ, ZimStat indicates the Food Poverty Line (FPL) as at July 2023 was $77,186.03 meaning the minimum needs basket costs that much per person in July 2023, representing an increase of 10, 4% over the June 2023 figure of $69,941.05.