Annual inflation further declines

Source: Annual inflation further declines | The Herald

Annual inflation further declines

Bulawayo Bureau

As expected and predicted, annual inflation fell significantly to 50,24 percent this month from 56,37 percent last month while month-on-month inflation was 4,18 percent, a rise from the 2,56 percent seen last month. 

Annual inflation rates have been dropping swiftly since July last year as the exceptional price rises seen in 2019 and the first seven months of last year were gradually removed from the calculation to be replaced by the far lower monthly jumps seen since the start of the foreign currency auctions and the stable exchange rates that resulted.

In its latest update, ZimStat saw non-food items pushing up the monthly rate rather than increases in the prices of food. 

The month-on-month food and non-alcoholic beverages inflation rate stood at 3,14 percent in August , gaining 0,63 percentage points on the July 2021 rate of 2,51 percent. 

COMMENTS

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    Dr Ace Mukadota PhD 3 weeks ago

    Professor Steve Hanke of Johns Hopkins University says Zimbabwe inflation is at 64.64% on an annual basis. He basis his calculations on the free market exchange rate which is 150 to the USD. The RBOZ calculates the inflation rate at the rigged rate of about 86 to the USD.