By Staff Reporter
The depreciation of the local currency continues weighing heavily on Zimbabweans with an over 65% increase in the Total Consumption Poverty Line (TCPL) for one person increasing to land to close to a million. The situation is worse considering the exchange disparity witnessed between the official and alternative market rate popularly known as the the Black Market Rate in the past week nearing 100%
According to the Zimbabwe National Statistics Agency (Zimstat) an average family of six now requires a minimum ZW$5,4 million to meet monthly needs signifying a 65,8% increase from the figures recorded last month.
The latest data released this week shows that the Total Consumption Poverty Line (TCPL) for one person is ZWL 916,225.50 in March 2024.
“This means that an individual required that much to purchase both non-food and food items as at March 2024 in order not to be deemed poor. This represents an increase of 65.8 percent when compared to the February 2024 figure of ZWL552,745.80,” said Zimstat.
The Food Poverty Line (FPL) for one person in March 2024 was ZWL701,236.89. This means that the minimum needs basket cost that much per person in March 2024. This represents an increase of 62.2 percent over the February 2024 figure of ZWL432,454.90