Zimbabwe’s US Dollar Inflation Slows To 0.3% In May

Zimbabwe’s month-on-month inflation rate in US dollar terms slowed to 0.3% in May 2026, down from 1.1% in April.

The slowdown was largely driven by easing non-food prices, while food inflation was unchanged, according to the latest data from the Zimbabwe National Statistics Agency (ZIMSTAT) released on Tuesday, 26 May.

“The USD month-on-month inflation rate for May 2026 was 0.3 percent shedding 0.8 percentage points on the April 2026 rate of 1,1 percent,” ZIMSTAT said.

The all-items US dollar Consumer Price Index rose to 125.19 in May from 124.76 in April, showing that prices continued to increase, albeit at a slower pace.

Food and non-alcoholic beverages inflation held steady at 0.8% during the month, while non-food inflation fell to 0.1% from 1.2% in April.

However, annual inflation accelerated over the period.

Year-on-year inflation in US dollars increased to 2.8% in May from 2.2% in April, meaning consumers paid more for goods and services than they did a year earlier.

“This means that prices as measured by the all-items USD CPI increased by an average rate of 2,8 percent from May 2025 to May 2026,” ZIMSTAT stated.

According to ZIMSTAT, the average month-on-month inflation rate between January and May 2026 was 0.3%, significantly lower than the 1% average recorded in 2025.

The agency also said month-on-month inflation in Zimbabwe Gold (ZWG) terms was 0.5% in May 2026, down 0.6 percentage points from 1.1% in April.

Year-on-year, ZWG inflation stood at 4.4% in May, as measured by the all-items ZWG Consumer Price Index. That was 0.4 percentage points lower than the 4.8% recorded in April.

The month-on-month inflation rate is the percentage change in the price index for the reference month compared with the previous month. Year-on-year inflation is the percentage change in the price index for the reference month compared with the same month the previous year.