Zimbabwe CPI slows to 761.02% year-on-year in August 

Source: Zimbabwe CPI slows to 761.02% year-on-year in August | Reuters

A shopper wears a mask for protection against the spread of coronavirus disease (COVID-19) in a shop in Harare, Zimbabwe, March 18, 2020. REUTERS/Philimon Bulawayo

JOHANNESBURG (Reuters) – Zimbabwe’s consumer price inflation slowed to 761.02% year-on-year in August compared to 837.53% the previous month, the statistics agency said on Tuesday.

On a monthly basis, prices increased by 8.44% compared to 35.53% in July.

The ministry of finance has targeted annual inflation at 300% by the end of this year but analysts say a weakening Zimbabwe dollar currency and imports of the staple maize after successive poor harvests will keep prices elevated.

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