Zim monthly inflation doubles, reaches 15,5%

Business Reporter

ZIMBABWE’s monthly inflation more than doubled to reach 15,5% up from just 6,3% recorded in the month of March 2022 on the back of both internal and external factors choking the economy.

The statistics agency data shows that the Total Consumption Poverty Line (TCPL) for Zimbabwe rose significantly.

“The TCPL for one person stood at $11,363.46 per person in April 2022. This means that an individual required that much to purchase both non-food and food items as at April 2022 in order not to be deemed poor,” said ZIMSTAT.

 The increase represents an increase of 17,1%  when compared to the March 2022 figure of $9,708.15.

The April 2022 monthly inflation rose to 15,5% up from 6,3% recorded in March 2022.

The mean month-on-month inflation rate for the period January to December 2020 was 13,8%  while the mean month-on-month inflation rate for the same period in 2019 was 17 %.

The mean month-on-month inflation rate from January to December 2021 was 4 %. The mean month-on-month inflation rate from January to April 2022 was 9,3%.

The month-on-month Food and Non -Alcoholic Beverages inflation rate stood at 18,5% in April 2022, gaining 12,5% on the March 2022 rate of 6 %. The month-on month non-food inflation rate stood at 13.3 percent, gaining 6.8 percentage points on the March 2022 rate of 6.5 percent.

During the period under review ,the year-on-year inflation rate (annual percentage change) for the month of April 2022 as measured by the all items Consumer Price Index (CPI) stood at 96,4% which means that prices as measured by the all items CPI increased by a similar rate between April 2021 and April 2022.

The food poverty line (FPL) as at April 2022 stood at $8,365.88. This means that the minimum needs basket cost that much per person in April 2022 representing an increase of 18.5 percent over the March 2022 figure of $7,061.68.

The month-on-month Food and Non- Alcoholic Beverages inflation rate stood at 18.5 percent in April 2022, gaining 12,5% points on the March 2022 rate of 6%.