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Monthly inflation quickens

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Zimbabwe’s month-on-month inflation rate quickened to 0,2% last month, gaining 0,1 percentage points from 0,1% in September, the Zimbabwe Statistical Agency (Zimstat) said on Tuesday.

On a year-on-year basis, the rate of change in the price level declined by 0,6 percentage points to 3,6% from 4,2% in September.

Zimbabwe’s inflation rate is measured by the rate of change in the Consumer Price Index (CPI), compounded by calculating the change in the price of a basket of goods consumed by a typical urban consumer.

The rise in the monthly CPI means that prices of the consumer basket increased in October from the previous month, while the deceleration in the annual CPI means that the rate of increase in the price of this basket of goods slowed in October this year relative to October last year.

“The month-on-month food and non-alcoholic beverage inflation stood at 0, 40% in October 2010 gaining 0,36 percentage points on the September 2010 rate of 0,04,” said Zimstat.

“The month-on-month non-food inflation stood at 0,14% showing no change on the September 2010 rate of 0,14%.”

Year-on-year food and non-alcoholic beverage prone to transitory shocks stood at 8,46% while non-food inflation stood at 1,59%.

CPI for the month of October stood at 95,3% from 95,1 in September this year.

Zimstat said the poverty line for five persons in October 2010 stood at $141 down 2,4% on a monthly basis and 7,2% on annual basis.

The food poverty line represents the minimum consumption expenditure necessary to ensure that each household member can consume a minimum food basket representing 2 100 kilocalories.

An individual whose total consumption expenditure does not exceed the food poverty line is deemed to be very poor.

The total consumption poverty Line (TCPL) for an average of five persons was $462 in October 2010 indicating a 2,4% from $451 in October 2009.

The TCPL figure for October is -2,54% from to $474 in September this year.

“This means that an average household required that much to purchase both food and non-food items for them not to be deemed poor,” Zimstat said.

Accordig to the statistical agency Matabeleland South province recorded TCPL for an average household for the month of October of $511 while Manicaland province had a TCPL of $411 for the same month.

Average TCPL varies with average prices in any given province.

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