By Staff Writer
Harare – ZimStats has moved in line with the devolution efforts and has now resorted to reporting Poverty Datum Line statistics per province and an averaged national TCPL figure. The statistics agency has also stopped reporting TCPL figures for a family of five according to a video published on their social media page.
For an individual, their TCPL in November 2020 moved from $3,750 in October to $4,426.00. The rapid growth in the cost of living is attributed to a weakening dollar on the foreign currency auction market which has sucked most of the industry players from the parallel market.
The food poverty line (FPL) as at November 2020 stood at $3 279. This means that the minimum needs basket cost that much per person in November 2020.
The poverty line is the threshold below which individuals are considered to be lacking the resources to meet the basic needs for healthy living; in other words, having insufficient income to provide the food, shelter and clothing needed to preserve health.
Generally, consumption is the preferred welfare indicator for a number of reasons. Income is generally more difficult to measure accurately. For example, the poor who work in the informal sector may not receive or report monetary wages; self-employed workers often experience irregular income flows; and many people in rural areas depend on agricultural incomes. Moreover, consumption accords better with the idea of the standard of living than income, which can vary over time even if the actual standard of living does not.
sources: Economic Times.