"Zim has lower inflation than Botswana, Namibia & South Africa": Chinamasa

6 years agoSun, 01 Oct 2017 06:01:41 GMT
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"Zim has lower inflation than Botswana, Namibia & South Africa": Chinamasa

Finance Minister Patrick Chinamasa said Zimbabwe’s inflation was the lowest in the SADC region in August. According to the statistics Zimbabwe has the lowest inflation as it stands.

This includes countries such as Namibia, South Africa and Botswana which house a number of Zimbabweans who have gone for better living conditions and employment. Said Chinamasa:

Barring the incidence of the 23 September, 2017 where falsehoods peddled through social media triggered panic buying and a hike in prices of basic commodities, inflation as at end of August, 2017 stood at 0,14% the lowest in the SADC region.  The SADC benchmark for inflation is between 3% and 7%. From recent developments it was evident that the economy has come out of deflation or negative inflation (which is a good thing) indicating that the economy was on a recovery path and inducing demand in the Market.  As we go forward efforts will be made to manage this trend so that inflation is contained to manageable levels.

More: Ministry of Finance

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