Monthly Inflation Drops To 21.4% - Zimstat
Zimbabwe’s month-on-month inflation for July fell by 18.22 percentage points to 21.04 per cent, the Zimbabwe National Statistics Agency (ZimStat) has revealed.
The decline has been attributed to a slowdown in increases in the prices of goods and services.
In June, month-on-month inflation was at 39.26 per cent, while annual inflation was at 176 per cent. According to Zimstat:
This means that prices, as measured by the all items CPI, increased by an average rate of 21.04 per cent from June 2019 to July 2019.
The government in July suspended the publication of year-on-year inflation which had galloped to 176 per cent in June this year.
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While presenting the midterm budget review statement last month, Finance and Economic Development Minister, Mthuli Ncube said:
The change in currency regime from the multi-currency to Zimbabwe dollar has impacted on the base for calculation of CPI indices and hence inflation.
Given this transition, 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 ensure that we compare like with like in terms of currency regimes.
