Saturday, June 7, 2025
No Result
View All Result
News Report  Zimbabwe
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
No Result
View All Result
News Report  Zimbabwe
No Result
View All Result
Home Breaking News

Zimbabwe Cost Of Living Spikes: ZimStats

September 29, 2023
0
Zim’ Inflation Rate  Jumps To 175.8% In June:ZIMSTAT

The cost of living in Zimbabwe has gone up with the Total Consumption Poverty Line rising by 4.8% in September which means that it now costs ZWL$95,462.53 (equivalent to US$17.7) for a person to meet their basic needs.

This increase is mainly due to the Zimbabwe dollar losing value compared to the US dollar, causing prices to continuously rise, NewsDay reported citing official statistics from the Zimbabwe National Statistics Agency (ZimStat).

During the period under review, the Zimbabwe dollar depreciated by around 18% and 23% on official and parallel foreign currency markets respectively. As a result, businesses and service providers are adjusting their prices to keep up with the currency’s decline. ZimStat said:

The Food Poverty Line (FPL) in September 2023 rose by 3,9% to $73, 235,85 from $70, 460,81 in August 2023. The Total Consumption Poverty Line for Zimbabwe was $95,462,53 per person in September 2023 representing an increase of 4,8% when compared to the August 2023 figure of $91,063,30.

The major drivers of the September 2023 month-on-month inflation rate of 1,0% were food and non-alcoholic beverages (0,33%) and education (0,25%) and communication (0,15%).

ZimStat also noted a change in the method of calculating inflation, using a geometric aggregation method due to 80% of transactions being in US dollars.

Economist Yona Menon Banda attributes the rising inflation in Zimbabwe to the weakening local currency. He explains that retailers are continuously adjusting prices to maintain their earnings.

The government took several measures to tackle inflation and stabilise the macroeconomy and Zimbabwe dollar including reducing the amount of money available in the economy and making fees and taxes payable in the local currency. These measures initially helped slow down the rate of inflation for a few months. However, recently, the value of the Zimbabwe dollar has started to decrease again compared to the United States Dollar.

Source Pindula News

Tags: cost of livingzimbabwezimstats

Related Posts

US$75 Million Bridge: Where’s the Money Going?

US$75 Million Bridge: Where’s the Money Going?

by Nyathi
June 5, 2025
0

The proposed US$75 million bridge project across Runde River at Chilonga has raised eyebrows, given the history of bridge construction...

JUST-IN: Zambian Con-court blocks Edgar Lungu to contest in the upcoming elections

Former Zambian President Lungu dies

by Talent Moyo
June 5, 2025
0

Zambia's former President Edgar Lungu has died at the age of 68, his party has said in a statement. He...

Xenophobic Attacks in Eastern Cape

Xenophobic Attacks in Eastern Cape

by Nyathi
May 30, 2025
0

  The tranquil town of Addo in South Africa's Eastern Cape has been scarred by brutal xenophobic attacks, leaving four...

Tragedy on Harare Road- 10 Lives Lost in Devastating Collision

Tragedy on Harare Road- 10 Lives Lost in Devastating Collision

by Nyathi
May 27, 2025
0

A horrific accident occurred today, May 27, 2025, near the Sebakwe River in Kwekwe, claiming the lives of 10 people....

Corruption Allegations Rock Marange and Muromo Police Stations

Corruption Allegations Rock Marange and Muromo Police Stations

by Nyathi
May 26, 2025
0

by -Bridget  Mukwena Residents of Marange and Muromo are outraged over the alleged misuse of police tollgates by officers from...

UZ’s Brilliant Plan to Hire ‘Experts’ from the Streets Falls Flat

UZ’s Brilliant Plan to Hire ‘Experts’ from the Streets Falls Flat

by Nyathi
May 24, 2025
0

In a shocking turn of events, University of Zimbabwe (UZ) lecturers are still demanding a whopping US$2,500 monthly salary, despite...

Please login to join discussion

Trending News Today

  • Widow Caught in Bed With Lover a Week After Burying Husband

    Widow Caught in Bed With Lover a Week After Burying Husband

    168 shares
    Share 67 Tweet 42
  • ZEP Holders Breathe a Sigh of Relief as SCA Rules in Their Favor

    71 shares
    Share 28 Tweet 18
  • Two Zimbabwean Care Home Workers in the UK attacked, one killed

    69 shares
    Share 28 Tweet 17
  • Sangoma Turns to Lion Snack

    135 shares
    Share 54 Tweet 34
  • Chiredzi: CIO Officer Goes Rogue

    87 shares
    Share 35 Tweet 22
  • Masvingo Council Official Takes His Own Life

    59 shares
    Share 24 Tweet 15
  • Its Open Season for Witch Hunters ‘Tsikamutandas’ – TMPC, Police Join Forces

    33 shares
    Share 13 Tweet 8
  • Teenager Convicted for Falsely Accusing a Man of Rape

    32 shares
    Share 13 Tweet 8
  • Self Proclaimed King “Munhumutapa” to Stand Trial Tomorrow.

    60 shares
    Share 24 Tweet 15
  • Fake Doctor leaves 23-year-old hypnotized

    31 shares
    Share 12 Tweet 8

Popular This Week

  • Fatal Dog Attack Exposes Mike Mupinga’s Troubling Past

    Fatal Dog Attack Exposes Mike Mupinga’s Troubling Past

    271 shares
    Share 108 Tweet 68
  • Widow Caught in Bed With Lover a Week After Burying Husband

    168 shares
    Share 67 Tweet 42
  • The Turbulent Life of President Mnangagwa: A Story of Helicopters, Close Calls, and Air Force Angst

    142 shares
    Share 57 Tweet 36
  • Pastor’s Pulpit Shame- Church Leader Caught in Love Triangle

    139 shares
    Share 56 Tweet 35
  • Sangoma Turns to Lion Snack

    135 shares
    Share 54 Tweet 34
  • Serial South African Killer Escapes To Zimbabwe

    111 shares
    Share 44 Tweet 28
  • COVID-19 Variant Alert: WHO Urges Global Vigilance

    108 shares
    Share 43 Tweet 27
  • The Fake Doc- “Take Lacto And Fruits Three Times a Day”

    107 shares
    Share 43 Tweet 27
  • Daughter and Son-in-Law Swindle Father Out of $100k

    160 shares
    Share 64 Tweet 40
  • Blessed Bowa’s 12-Year Gift for Being a ‘Good Samaritan’ Thief

    94 shares
    Share 38 Tweet 24

Popular This Month

  • How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

    How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

    599 shares
    Share 240 Tweet 150
  • Bulawayo Police Bust Vuzu Party, Arrest 13 Youths

    324 shares
    Share 130 Tweet 81
  • Unhealed Wounds-Remembering the 21 Mothers of Emkhonyeni Who Were Burnt Alive

    314 shares
    Share 126 Tweet 79
  • Apostle Eunor Guti Declines Wicknell Chivayo’s Lavish Gift

    274 shares
    Share 110 Tweet 69
  • Fatal Dog Attack Exposes Mike Mupinga’s Troubling Past

    271 shares
    Share 108 Tweet 68
  • Loophole or Legal Gymnastics? Zimbabwean Schools Find Ways Around Fee Payment Rule

    248 shares
    Share 99 Tweet 62
  • New ‘ lobola’ Fees for Foreigners Seeking Medical Care in Gauteng

    240 shares
    Share 96 Tweet 60
  • The Despicable Scam at Zimbabwe’s Hospitals; Its Business Nothing Personal.

    240 shares
    Share 96 Tweet 60
  • Philanthropy or Publicity Stunt? Wicknell Chivayo’s Lavish Gift to Jah Prayzah’s Team

    211 shares
    Share 84 Tweet 53
  • Hospital Investigates Disappearance of Infant’s Body

    205 shares
    Share 82 Tweet 51

Most Read Stories

  • “Zimbabwe Is Discrediting SADC”

    ZANU PF Accused Of Bribing SADC Elders To Retain From Losing Power

    5239 shares
    Share 2096 Tweet 1310
  • Madzibaba gets Toyota Aqua after explaining new currency ZiG to church

    4533 shares
    Share 1813 Tweet 1133
  • Breaking News: Zimbabwe launches New Currency (Zig)

    4279 shares
    Share 1712 Tweet 1070
  • Guide : How to access 2023 Zimsec Ordinary O Level results online

    3973 shares
    Share 1589 Tweet 993
  • Uganda Police Officer Shoots Wife Dead After Mocking Him Over Man-U Loss

    3893 shares
    Share 1557 Tweet 973
  • Floods hit Gweru

    3593 shares
    Share 1437 Tweet 898
  • Mashura pa Gokwe musi wa 12.02.24

    3544 shares
    Share 1418 Tweet 886
  • Secret message for ED after his inauguration

    3481 shares
    Share 1392 Tweet 870
  • Heatwave Warning:Expect Extremely hot temp ranging from 36° to 41° until 12 March

    3394 shares
    Share 1358 Tweet 849
  • Here is the reckless Kombi Driver!!!!!!!!!!! See pics here

    3218 shares
    Share 1287 Tweet 805

  • About Us
  • Contact Us
  • FAQ
  • Privacy Policy
  • Terms of Service
  • Home

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News