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The Herald, 3 June, 1982
THE cost of living for lower-income urban families rose 5,1 percent in the first quarter of this year compared to 6,2 percent for the better-off families in the same period.
Figures for the poorer groups are issued quarterly by the Central Statistical Office. The main causes of the 5 percent rise were higher prices of green vegetables and fresh fruit, higher rents in Bulawayo and smaller increases in the prices of clothing, footwear, and household goods. Transport costs rose marginally.
In the same quarter, the better-off faced substantial rises in the wages of domestic workers and rents and smaller increases in the prices of food, clothing, and household goods.
Figures for this group are issued monthly and between February and March, there was a rise of 0,2 percent.
LESSONS FOR TODAY
- The cost of living is a measurement used to evaluate the cost of maintaining a certain standard of living.
- It helps determine the amount of money that a person needs to spend to cover basic expenses such as housing, food, taxes, and healthcare in a particular place.
- In Zimbabwe the cost of living is measured using the consumer price index (CPI), a common measure of inflation that measures the price change over time for a basket of goods and services. The basket is representative of consumer spending patterns, and the change in its price represents the rate of inflation faced by consumers as a whole.
Bongani Ndlovu
Online Reporter