According to the most recent data from the Zimbabwe National Statistics Agency (ZIMSTAT), monthly inflation decreased to 0.7% in January 2023, losing 0.6 percentage points.
In a report seen by Pindula News, ZIMSTAT stated that inflation reduced significantly in the just-ended month. Said ZIMSTAT:
The month-on-month inflation rate in January 2023 was 0,7% shedding 0,6% on the December 2022 rate of 1,3% meaning that prices as measured by the all items blended CPI increased by an average of 0,7% from December 2022 to January 2023.
The month-on-month Food and Non-Alcoholic Beverages inflation rate stood at 0,4% in January 2023, shedding 1,7% on the December 2022 rate of 2.1%.
The non-food inflation rate stood at 1%, increasing by 0.4% on the December 2022 rate of 06%.
The blended CPI for the month ending January 2023 stood at 278.12 compared to 276.10 in December 2022 and 138.02 in January 2022.
ZIMSTAT added that the year-on-year inflation rate for the month of January 2023 as measured by the all-items blended Consumer Price Index (CPI) stood at 101.5%. Added ZIMSTAT:
This means that prices as measured by the all items blended CPI increased by an average of 101.5 percent between January 2022 and January 2023.
The food poverty line (FPL) as of January 2023 stood at $22 384.78 implying that the minimum needs basket cost that much per person in January 2023 which represents an increase of 0.9% over the December 2022 figure of $22 192.87
The Total Consumption Poverty Line (TCPL) for Zimbabwe stood at $29 499.89 per person in January 2023. This means that an individual required that much to purchase both non-food and food items as of January 2023 in order not to be deemed poor.
This represents an increase of 1.0 per cent when compared to the December 2022 figure of $29,219.01.
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