Zimbabwe’s Month-On-Month Inflation For January 2020 Drops By 14.23% - ZIMSTAT

3 years ago
Sun, 16 Feb 2020 11:07:40 GMT
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Zimbabwe’s Month-On-Month Inflation For January 2020 Drops By 14.23% - ZIMSTAT

ZIMSTAT has this Sunday released data on Zimbabwe’s inflation which indicated that month-on-month inflation for January 2020 was 2.23%, down from 16.55% in December 2020.

Zimstat will resume publishing annualised inflation data next month, starting with the February 2020 figures.

The data maybe be consistent with the World Bank’s projections of 2019 which observed that inflation would slow down in 2020.

This is also consistent with Finance Minister Professor Mthuli Ncube’s projection that the inflation will fall in 2020. He added that the economy will bank much on rainfalls which have a direct impact on energy and agriculture sectors which in turn have a trickle-down effect on other sectors.

The data can be confusing to the common man as the prices of basic commodities including the scarce mealie-meal have been going up as the local currency continues to shed value against foreign currencies particularly the United States dollar.

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The inflation in the country is the pushing factor that coerced workers into engaging the employer in a bid to influence a salary increase.

Workers have since last year been arguing that the soaring inflation has eroded their salaries leaving them incapacitated to execute their contractual duties and responsibilities.

More: newZWire



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