August Inflation Falls To 18 Per Cent - Zimstat

The Zimbabwe National Statistics Agency (Zimstat) said month-on-month inflation rate dropped by 2.97 per cent in August this year.

In its latest report on month-on-month inflation released on Monday, Zimstat said the rate of inflation to 18,07 per cent in August, shedding 2,97 percentage points on the July rate of 21,04 per cent. It said:

The month-on-month inflation rate in August 2019 was 18,07 per cent shedding 2,97 percentage points on the July 2019 rate of 21,04 per cent.

This means that prices, as measured by the all items Consumer Price Index (CPI), increased by an average rate of 18,07 per cent from July 2019 to August 2019.

In the 2019 mid-term national budget tabled in August this year, Finance and Economic Development Minister Mthuli Ncube deferred the publication of year-on-year inflation statistics to allow the building up of data of prices in mono-currency for a period of 12 months to February 2020.

The mono-currency was introduced in June this year by banning the multi-currency system that had been in place for the past decade.

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