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Wednesday, May 22, 2024
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March Inflation Rate Jumps

Zimbabwe’s monthly inflation accelerated by 0.1 percent in March from its February rate of -1.6 percent as the weakening Zimbabwe dollar combined with external forces undermining the USD currency weighs.

The local currency has depreciated by 2.5 percent since the beginning of March to date exerting inflationary pressures on blended inflation rate.

Zimstat last month adopted the blended inflation rate to measure both the month-on-month inflation rate and the year-on-year inflation rate for the month of February 2023.

The month-on-month Food and Non-Alcoholic Beverages inflation rate was at 0.3 percent in March 2023, gaining 1.9 percentage points on the February 2023 rate of -1.6 percent.

The month-on-month non-food inflation rate was 0.0 percent, gaining 1.6 percentage points on the February 2023 rate of -1.6 percent.

The CPI was 274.01 in March 2023, 273.65 in February 2023 and 146.06 in March 2022.

The year-on-year inflation rate (annual percentage change) for the month of March 2023 as measured by the all items Consumer Price Index (CPI) was 87.6 percent.

The Food Poverty Line (FPL) for one person in March 2023 was ZW$22,561.00. The Total Consumption Poverty Line (TCPL) for one person was ZW$29,778.00 in March 2023.

The food poverty line (FPL) as at March 2023 was $22,560.53. This means that the minimum needs basket cost that much per person in March 2023. This represents an increase of 0.8 percent over the February 2023 figure of $22,386.43.

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