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Business Reporter
THE Poverty Datum Line (PDL) for an average family of five shot up to $1 617 for the month of July signifying an increase of 80 percent from the month of April, statistics from the Zimbabwe National Statistics Agency have shown.
The continued rise in PDL is largely attributed to price increases in basic commodities such as mealie-meal, rice, cooking oil and flour.
The increases are due to some manufacturers and retailers’ penchant to chase the rate of the Zimbabwean dollar to the US dollar which now stands at US$1:$14,12 on the interbank exchange market.
Government and economic analysts have however maintained that pegging prices against the US Dollar is not a solution.
Contributing to the rise in the PDL is the Food Poverty Line (FPL) for an average family of five persons per household which stood at $640 in July.
Online Reporter