The jump reflects a continued increase in the prices of goods and services as inflationary pressures persist in the economy.
It also reflects volatility in the exchange rates.
“The Food Poverty Line for one person in February 2020 was $419 while that for an average household of five persons stood at $2 097,” the Zimbabwe National Statistics Agency (Zimstat) said in a tweet.
The poverty line is the threshold below which families or individuals are considered to be lacking the resources to meet the basic needs for healthy living; in other words, having insufficient income to provide the food, shelter and clothing needed to preserve health.
“The Total Consumption Poverty Line (TCPL) for one person was $1 059 while for an average five person household it stood at $5 293 for the same period.”
TCPL is commonly referred to as the Poverty Datum Line (PDL).
International Labour Organisation recommends that the PDL should be used as a benchmark or reference point in determining minimum wages. However, in the current environment, wage growth is lagging behind inflation.-New Ziana
(173 VIEWS)
This post was last modified on April 10, 2020 6:08 pm
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…
The Zimbabwe International Trade Fair (ZITF) has announced an ambitious long-term plan to turn the…