Zim’s average family now requires $6 420 per month
ZIMBABWE National Statistics Agency (ZIMSTAT) latest data shows that a family of five people in March required a total of $6,420 for their basic monthly needs.
“Total Consumption Poverty Line for one person during the same period of March 2020 was $1 284.17 while for an average of five people per household stood at $6,420.80,” said ZIMSTAT.
The figures translate to US$145.45 when calculated using the current parallel market exchange rates. The figures fall far above the current salary structures which saw government gazetting a minimum wage of $2 500 per month across the country’s economic sectors.
This month, ZIMSTAT reported that month on month inflation rose to 27% after gaining 13.07 percentage points from the 13.52 percent recorded in the month of February.
Year on year inflation as measured by the Consumer Price Index rose to 676.39 up from 540.16%.
However, the impact of the COVID-19 national lockdown has further worsened the situation which has seen most prices of basics commodities rising beyond the reach of many against a background of scarcity and speculative purchasing behaviour.
On Wednesday, Vice President Kembo Mohadi announced that prices of basic commodities had been reversed to levels charged before that start of the national lockdown as the current prices were “speculative and unjustified.”