Zimbabwe's Annual Inflation Rate Falls

8 months agoMon, 27 Mar 2023 18:32:35 GMT
Share on FacebookShare on TwitterShare on LinkedIn
Zimbabwe's Annual Inflation Rate Falls

Zimbabwe’s annual inflation rate dropped to 87.6 percent in March from 92.3 percent in February.

According to data released by the Zimbabwe National Statistics Agency (ZIMSTAT) on Monday, there was a marginal increase in the month-on-month inflation rate. ZIMSTAT said:

The year-on-year inflation rate for the month of March 2023 as measured by the All-Items Consumer Price Index (CPI) was 87.6 percent this means that prices, as measured by the Consumer Price Index, increased by an average of 87.6 percent between March 2022 and March 2023.

The month-on-month inflation rate in March 2023 was 0.1 percent gaining 1.7 percentage points on the February rate of minus 1.6 percent.

ZIMSTAT said the key drivers were social services and elements such as health and education.

Get Pindula News on our WhatsApp Channel

Subscribe here: https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v

ZIMSTAT is now measuring inflation using a weighted average of items priced in Zimbabwean dollars and United States dollars.

Before the new “blended rate”, inflation was being measured using the local currency only.

A fall in inflation does not mean prices are decreasing. Rather, it reflects the slow pace of price increases.

More: Pindula News



Leave a Comment

Generate a Whatsapp Message

Buy Phones on Credit.

More Deals