Home Economy Zimbabwe’s monthly Inflation Drops To 21.4% according to ZimStat

Zimbabwe’s monthly Inflation Drops To 21.4% according to ZimStat

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The Zimbabwe National Statistics (ZimStat) has revealed that the country’s month on month inflation for July fell by 18.22 percent points to 21.04 percent.

The slowdown increase in goods and services prices is the driving force behind the decline.

According to ZimStat, month on month inflation in June was at 39.26 percent while the yearly inflation was at 176 percent. 

This means that prices increased by an average rate of 21.04 percent from June to July of the same year as measured by the all items CPI.

Finance and Economic Development Minister, Mthuli Ncube in his midterm budget review last month said the change in currency regime from the multi-currency to the Zim dollar has impacted on the base for calculation of CPI indices and that resulted in the inflation.

The Zimbabwean government in July suspended the publication of the year-on-year inflation which had shot up to 176 percent in the previous month this year.

This means that ZimStat will defer publication of year on year inflation, while building up data of prices in mono-currency for a period of 12 months to February 2020. 

This will then ensure that Zimbabwe compares like with like in terms of currency regimes.

 

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