Zimbabwe's Annual Inflation Drops In September

The Zimbabwe National Statistics Agency (ZIMSTAT) Tuesday announced that year on year inflation had fallen to 659.4% in the month of September 2020.

This comes after the inflation rate also went down to 761 in the month of August 2020 from 837% reached in July this year. Said the statistics agency:

The year on year inflation rate for the month of September 2020 as measured by all the items Consumer Price Index stood at 659.4%.

Consumer Price Index (CPI) for September 2020 saw the month on month inflation rate in September falling to 3.83% down from 8.44 % in August. Zimstat said:

The CPI for the month ending September 2020 stood at 2 205 compared to 2 123 in August 2020.The month on month inflation rate in September 2020 was -0.47 % shedding 1.88 percentage points on the August 2020 rate of 1.41%.

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The government has over the recent past months been implementing a cocktail of measures premised at containing the inflation that had eroded incomes of many Zimbabweans.

For instance, the Reserve Bank of Zimbabwe ordered the closure of mobile money platforms including Ecocash and One Money Agent lines which had been accused of fuelling illegal foreign currency dealing.

More: NewZimbabwe