June Annual Inflation Slows Down To 737.26%

Zimbabwe’s annual inflation rate for June slowed down from 785.55% in May to 737.26% while month-on-month, the inflation rate in June was 31.66%, up 16.53 percentage points on May‘s rate of 15.23%.

In a statement posted on its Twitter account, the Zimbabwe National Statistics Agency (Zimstat) also indicated that the Consumer Price Index (CPI) for the month ending June 2020 stood at 1,445.21, up from 1,097.65 in May 2020. Zimstat said in the statement:

The month on month inflation rate in June was 31.66% gaining 16.53 percentage points on the May 2020 rate of 15.23%.

The year on year inflation rate (annual percentage change) for the month of June 2020 as measured by all items stood at 737.26%.

The CPI for the month ending June 2020 stood at 1,445.21 compared to 1,097.65 in May 2020 and 172.61 in June 2019.

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The month on month inflation rate in June 2020 was 29.44% gaining 15.91 percentage points on the May rate of 13.53%

The year on year inflation rate (annual percentage change) for the month of June 2020 as measured by all items (blended CPI) stood at 457.19%.

The blended CPI for the month ending June 2020 stood at 557.19 compared to 430.45 in May 2020 and 100.00 in June 2019.

The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.