March Inflation Drops To 2.26% – Zimstats

Zimbabwe’s month-on-month inflation for March has decreased by 1.19 percentage points to 2.26 per cent from 3.45 per cent recorded in February, the Zimbabwe National Statistics Agency (Zimstat) said.

Zimstat also revealed that year-on-year inflation for the month of March stood at 240.55 per cent from 321.59 per cent. It said:

The year on year inflation rate (annual percentage change) for the month of March 2021 as measured by the all items Consumer Price Index (CPI) stood at 240.55% from 321.59%.

The month on month rate was at 2.26% shedding 1.19 percentage points from 3.45%.

The blended month on month inflation rate in March 2021 was 1.09% gaining 0.38 percentage points on the February 2021 rate of 0.71%.

The blended year on year inflation rate for the month of March 2021 as measured by the all items blended CPI stood at 122.33%.

Commenting on the latest inflation statistics, former Finance Minister Tendai Biti said the official figures are a “farce” claiming they do not reflect the actual situation on the ground. Biti tweeted:

The existence of an entrenched multiple exchange regime, a strong parallel market,multi-tier pricing system makes #Zimstats official inflation figures a joke. As long as the auction exchange rate remains rigged & as long multiple economies exist Zim official data is a farce.

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