Zimbabwe Statistical Agency has published the inflation rate statistics for the month of August and it has stated that annual inflation at the end of August 2020 went down by close to 76% to 761.02% as compared to last months’ statistics which put annual inflation above 837%.
The update was posted by the agency on Twitter in a post that reads:
2/ The year on year inflation rate (annual percentage change) for the month of August 2020 as measured by all items #CPI stood at 761.02% The #CPI for the month ending August 2020 stood at 2,123.97 compared to 1,958.72 in July 2020 & 246.68 in August 2019
3/#BlendedCPI_August2020 The month on month inflation rate in August 2020 was 1.41% shedding 15.24 percentage points on the July 2020 rate of 16.65%
4/ The year on year inflation rate (annual percentage change) for the month of August 2020 as measured by all items #BlendedCPI stood at 420.91% The #BlendedCPI for the month ending August 2020 stood at 101.41 compared to 100.00 in July 2020 and 19.47 in August 2019.
The government has over the last few months introduced a cocktail of measures to try and contain the runaway inflation including banning some mobile money transactions and suspending some counters off the Zimbabwe stock exchange to try and starve off black market activities they said were fueling the exchange rate which was spiralling out of control.
Source: ZimStat Twitter