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Home >> Business
UPDATED: 16:45, June 13, 2006
Zimbabwe poverty datum line surges to 52 million Zimbabwean dollars
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Zimbabwe's poverty datum line for the month of May has gone up to 52 million Zimbabwe dollars from 37.9 million dollars in April, local media reported on Tuesday.

The Central Statistical Office announced on Monday the surge represented a 38.17 percent increase in the figure. The continued increase in the food basket leaves most families below the poverty datum line.

In Zimbabwe, one U.S. dollars equals about 101,000 Zimbabwe dollars at the official exchange rate rates, but is an equivalent of over 300,000 Zimbabwe dollars in the parallel market, or black market.

The increase of poverty datum line is attributed to low wages and salaries, which the average Zimbabwean takes home per month. While on average prices of basic commodities go up at least twice a month, workers hardly get salary increases, the office said.

The lowest paid workers, with the majority of them in the agricultural sector, are being paid less than 2 million dollars a month.

According to consumer watchdog, the Consumer Council of Zimbabwe, a family of six now requires at least 49.8 million dollars per month to meet its monthly requirements.

Inflation, currently at 1194 percent, has eroded the purchasing power of the majority of Zimbabweans, with many families now having one meal a day.

Source: Xinhua


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