Latest statistics from the Zimbabwe National Statistical Agency (ZimStat) put the country’s year on year inflation rate for the month of July as measured by all items Consumer Price Index (CPI) at 837.53%

The CPI for the month ending July 2020 stood at 1,958.72 compared to 1,445.21 in June 2020 and 208.92 in July 2019.

Its moving faster and more significantly than most companies or Government itself is reviewing salaries for workers, which has resulted in a significant erosion of disposable incomes.

For most workers, theirs wages are evdn inadequate to sustain basic requirements.

To highlight this point, another recent ZimStat figure is vital. According to the agency, the country’s Total Consumption Poverty Line (TCPL) for one person stood at $2,267 during the same period (June 2020), while that for an average of five persons per household pegged at $11,334.

The majority of civil servants earn less than $10,000 (US dollar denominated Covid-19 allowances included).

Perhaps more indicting, the official Food Poverty Line (FPL) for one person in June 2020 was $950, while that for an average household of five persons was $4,749.

Back to the latest inflation statistics, the month on month inflation rate in July 2020 was 35.53% gaining 3.87 percentage points on the June 2020 rate of 31.66%.

ZimStats also reported that in terms of the Blended CPI (including both ZWL and US dollar prices) for July 2020, the month on month inflation rate in July 2020 was 16.65% shedding 12.79 percentage points on the June rate of 29.44%.

The year on year inflation rate (annual percentage change) for the month of July 2020 as measured by all items blended CPI was at 485.27%.

The blended CPI for the month ending July 2020 stood at 649.96 compared to 557.19 in June 2020 and 111.05 in July 2019.