THE month-on-month inflation rate in March has slowed to 2,26 percent, shedding 1,19 percentage points on the February rate of 3,45 percent, official statistics show.
The year-on-year inflation rate for this month as measured by the all items Consumer Price Index (CPI) stood at 240,55 percent. This means that prices as measured by the all items CPI increased by an average of 240,55 percent between March 2020 and March 2021.
The Zimbabwe Statistics Agency (Zimstats) said the average increase in prices was at 2,26 percent from February 2021 to March 2021. “The month-on month Food and Non Alcoholic Beverages inflation rate stood at 2,52 percent in March 2021, shedding 1,90 percentage points on the February 2021 rate of 4,42 percent.
“The month-on-month non-food inflation rate stood at 2.06 percent, shedding 0,67 percentage points on the February 2021 rate of 2,73 percent. “The CPI for the month ending March 2021 stood at 2, 759.83 compared to 2, 698.89 in February 2021 and 810.40 in March 2020,” Zimstats said in a statement yesterday.
The month-on-month inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the previous month in the current year. The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.