Zimbabwe’s annual inflation rate fell to 106.3 per cent in August 2022, the Zimbabwe National Statistics Agency (ZIMSTAT) revealed on Friday.
In July, Zimbabwe’s annual inflation rate stood at 256.9 per cent. ZIMSTAT said:
The month-on-month inflation rate in August 2022 was 6.6% shedding 9.5% on the July 2022 rate of 16.1%.
This means that prices as measured by the all items blended Consumer Price Index (CPI) increased by an average of 6.6% from July 2022 to August 2022.
During the month, the Food Poverty Line (FPL) for one person in August 2022 was $20.461.
The Total Consumption Poverty Line (TCPL) for one person, a measure which sums up the combined cost of living for one person stood at $26.623.00 in August 2022. Said ZIMSTAT:
ZIMSTAT produces the official Poverty Datum Lines which are not comparable to cost of living indicators produced by other players in the market.
The significant fall in the inflation rate follows a raft of measures put in place by the Reserve Bank of Zimbabwe (RBZ) over the past few months.
These include hiking interest rates on loans, accelerating the mopping up of excess liquidity in the economy and introducing gold coins as an alternative store of value among other measures.