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Analysts: annual inflation rate in Zim rose to 56.9% for the first time in a decade

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As it has become known on Friday, February 15, the annual inflation rate in Zimbabwe has reached 56.9% for the first time in a decade. The indicator showed the highest value in the last 10 years. Thus, in December 2018, the annual inflation in the country was at the level of 42%.

According to the National Statistics Agency, the increase in the rate of inflation is associated with rising prices for basic goods, including bread. Therefore, its value increased from $ 1.40 per loaf to $ 2.50 in some stores.

Bakers attribute the rise in bread prices to the lack of foreign exchange to import flour.

According to analysts, product prices have gone up because the Zimbabwean bonds and electronic money lost value relative to US dollars.

In addition, it is reported that food insecurity in Zimbabwe has significantly increased.

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