THE month-on-month inflation rate for October 2022 has dropped to 3,2 percent, shedding 0,3 percentage points on the September 2022 rate of 3,5 percent, official data shows.
This means that prices as measured by the Consumer Price Index increased by an average of 3.2 percent from September to October, said ZimStats.
It said the month-on-month inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the previous month in the current year.
On foods and non- alcoholic beverages inflation rate, the agency said the month-on-month inflation was at 3,1 percent in October gaining 1,4 percentage points on the September rate of 1,7 percent.
“The month-on-month non-food inflation rate stood at 3,2 percent, shedding 2,0 percentage points on the September 2022 rate of 5,2 percent. The CPI for the month ending October 2022 stood at 13,113.95 compared to 12,713.12 in September 2022 and 3,555.90 in October 2021,” said the agency.
“The year-on-year inflation rate (annual percentage change) for the month of October 2022 as measured by the all-items Consumer Price Index (CPI) stood at 268.8 percent.”
Meanwhile, Zimbabwe’s poverty datum line (PDL) per person moved from $20,818.19 in September to $21,454.60 in October representing a 3.1 percent increase, official figures show.
Data released on Tuesday by the Zimbabwe Statistics Agency (Zimstat) indicates that the Total Consumption Poverty Line (TCPL) per individual was at $28 144 in October.
“The Food Poverty Line (FPL) for one person in October 2022 was $21,455.00.The Total Consumption Poverty Line (TCPL) for one person stood at $28,144.00 in October 2022,” said the agency.
“The Food Poverty Line (FPL) as at October 2022 stood at $21,454.60. This represents an increase of 3.1 percent over the September 2022 figure of $20,818.19.
“The Total Consumption Poverty Line (TCPL) for Zimbabwe stood at $28,144.07 per person in October 2022. This means that an individual required that much to purchase both non-food and food items as at October 2022 in order not to be deemed poor. This represents an increase of 3.1 percent when compared to the September 2022 figure of $27,297.53.”
ZimStats said PDL varies by province as prices vary from place to place.
“The differences are explained by differences in average prices in the provinces,” it said. – The Chronicle
