THE cost of living has increased by 10,4% with the food poverty line (FPL) for one person now almost $80 000, the Zimbabwe National Statistics Agency (ZimStat) said.
According to ZimStat, the FPL for one person increased from $69 941,05 in June to $77 186,03 in July.
The rising cost of living has been driven by a number of factors which include inflation, currency depreciation and economic instability.
“This means that the minimum needs basket will cost that much per person in July 2023. This represents an increase of 10,4% over the June figure of $69 941,05,” the statistical agency said.
“The Total Consumption Poverty Line (TCPL) for Zimbabwe stood at $99 545,95 per person in July 2023.
“This means that an individual required that much to purchase both non-food and food items as at July in order not to be deemed poor.
“This represents an increase of 9,2% when compared to the June 2023 figure of $91 171,62.”
A family now needs to spend more of its income on food, shelter, transportation and other necessities.
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Last month, the African Development Bank said Zimbabwe had the highest poverty rate in southern Africa.
In June this year, the World Bank said the FPL and TCPL were increasing rapidly in Zimbabwe without a matching increase in incomes.
