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Oliver Kazunga, Senior Business Reporter
THE Poverty Datum Line (PDL) for an average family of five rose to $17 244,07 last month signifying a 10,7 percent increase from the month of July rate of $15 572, 85, statistics from the Zimbabwe National Statistics Agency have shown.
According to Zimstat, PDL measures the basic needs for an average family of five.
In its latest report published this Thursday, the agency said:
“The Total Consumption Poverty Line (TCPL) for an average family of five stood at $17 244,07 in August 2020. This means that an average household required that much to purchase both food and non food items for them not to be deemed poor.”
The latest data indicates that although the PDL shot to $17 244,07 last month, the trajectory increased at a decreasing rate compared to a 37,4 percent spike achieved in July from $11 333,80 in June 2020.
The slow rise in the PDL in August is largely attributable to massive depreciation of inflation, reflecting that the stability of the exchange rate is having a positive knock-on effect on the prices of goods and services.
Zimstat also announced this week that month-on-month inflation rate stood at 8,44 percent in August with a significant depression of 27,09 percentage points recorded from the July rate of 35,53 percent.
– @okazunga
Online Reporter