Source: Inflation up 2,24% in October as prices continue on upward trend – NewsDay Zimbabwe November 16, 2017
The year-on-year inflation rate for the month of October as measured by the all items Consumer Price Index (CPI) stood at 2,24%, gaining 1,46 percentage points, as prices continued on an upward trend.
BY FIDELITY MHLANGA
The annual inflation for September was 0,78 %.
Prices of basic commodities shot up in September following social media messages warning Zimbabweans of a looming shortages reminiscent of the 2008 era.
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.
According to ZimStats, year-on-year food and non-alcoholic beverages inflation prone to transitory shocks stood at 4,40%, while the non-food inflation rate was 1,25 %.
The month-on-month inflation rate in October 2017 was 1,54 % gaining 1,16 percentage points on the September 2017 rate of 0,38%.
This means that prices as measured by the all items CPI increased at an average rate of 1,54% from September 2017 to October 2017.
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.