Deputy Finance Minister Clemence Chiduwa said that the government expects to see prices coming down in 2020 given the slowing down of month-on-month inflation during the last quarter of 2019.
Chiduwa made the remarks during an interview last week with Daily News reporters Blessings Mashaya and Pauline Hurungudo. He said:
The possibility of prices coming down in 2020 is very high on account of recent trends in inflation dynamics, where month-on-month inflation has been trending downwards from 38,75 per cent in October, 17,46 per cent in November and 16,55 per cent in December 2019.
The high inflationary environment of 2019 was mainly due to adjustments in relative prices, in line with exchange rate movements, following measures taken on currency reforms.
Chiduwa added that there will be minimal adjustments this year as most prices have already adjusted, for instance, on electricity, education and other utilities.
The government is committed to continuing implementing policies that contain money supply growth under the Monetary Targeting Framework, said Chiduwa.
Chiduwa also revealed that $10 and $20 and $50 notes will be released soon as most of the logistics have been put in place.