via Inflation continues in negative territory – NewsDay Zimbabwe March 17, 2015 by Victoria Mtomba
The year-on-year inflation rate for the month of February stood at -1,40% as measured by all-items Consumer Price Index (CPI) shedding 0,12 percentage points on the January rate of -1,28%.
“This means that prices as measured by the all-items CPI decreased by an average of 1,40% points between February 2014 and February 2015,” a statement by the Zimbabwe Statistical Agency has shown.
Month-on-month prices decreased by 0,07% between January and February this year.
The year-on-year inflation rate is given by the percentage change in the index of the relevant months of the current year compared with the index of the same months in the previous year.
The year-on-year food and non-alcoholic beverages inflation prone to transitory shocks stood at -2,87% whilst the non-food inflation rate was -0,68%.
The month-on-month inflation rate in February was 0,07% gaining 0,27% points on the January 2015 rate of 0,34%.
The month-on-month food-and-non-alcoholic-beverages inflation rate stood at 0,05% in February 2015, shedding 0,35 % points on the January 2015 rate of 0,40%.
The month-on-month non-food-inflation rate stood at -0,13%, gaining 0,57 percentage points on the January 2015 rate of -0,69%.
Prices of furniture in stores have been dropping with some companies running promotions since December last year to date.
The prices of shoes, clothes, cars and building materials have also not been spared by the decline in prices that has been witnessed in the country.
The consumer basket for an average family of six declined by $5,64 to $584,91 at the end of January this year due to fuel price reduction and government’s introduction of bond coins in the market.
Groceries have been on a downward trend with prices of cooking oil, sugar and soap having been reduced. Delta and Schweppes have reduced the prices of their beverages.
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