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Zimbabwe’s Monthly Inflation Rate Surges To 5.8% In September

6 months agoMon, 30 Sep 2024 07:14:08 GMT
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Zimbabwe’s Monthly Inflation Rate Surges To 5.8% In September

Zimbabwe’s month-on-month inflation surged to 5.8% in September 2024, up from 1.4% in August, driven largely by the sharp depreciation of the newly introduced currency, the Zimbabwe Gold (ZiG).

Since its launch in April 2024, the ZiG has faced increasing volatility, exacerbated by a shortage of US dollars in the market.

The Reserve Bank of Zimbabwe (RBZ) has attributed the currency’s decline largely to speculative activities.

This 4.4 percentage point increase in month-on-month inflation marks the most significant rise since the ZiG’s introduction.

According to the Zimbabwe National Statistics Agency (ZIMSTAT), the all-items Consumer Price Index (CPI) rose 5.8% on average between August and September 2024.

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ZIMSTAT said the month-on-month inflation rate reflects the percentage change in the price index compared to the previous month.

For September 2024, the weighted CPI for food and non-alcoholic beverages was the primary contributor to this increase, accounting for 1.5% of the total change in the inflation rate. ZIMSTAT said:

The month-on-month inflation rate was 5.8% in September 2024, gaining 4,4 percentage points on the August 2024 rate of 1.4%.

This means that prices as measured by the all-items ZWG CPI, increased by an average of 5.8% between August 2024 and September 2024.

The month-on-month inflation rate was 0.7% in September 2024, gaining 0.5 percentage points on the August 2024 rate of 0.2%.

The year-on-year inflation rate for September 2024, as measured by the all-items USD CPI, was 4.2%.

ZIMSTAT reported that the Food Poverty Line for an individual in September 2024 was set at ZiG446.56.

The Food Poverty Line indicates the minimum amount of money necessary for a person to access a daily energy intake of 2,100 calories, ensuring basic nutritional needs are met. ZIMSTAT said:

The Total Consumption Poverty Line for one person in September 2024 was ZiG681,79. The Total Consumption Poverty Line is derived by adding the non-food consumption expenditures of an individual below the food poverty line.

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9 Comments

Chibaba · 6 months ago
Just remove the Zig and leave the US only as the legal tender then no more inflation the prices of goods and services will remain the same from January to December.
Anonymous · 6 months ago
You mean it surged to 580%
Tommaso · 6 months ago
Vana mboko zveEconomy, vazvitadza
Officer#12 · 6 months ago
kuchachemwa kwete mbichana... 😂😂😂
🏃Chi baby Che Zanu 🌊 · 6 months ago
vaye vaiti pamberi ne zanupf urisei bp muchanzwa butter ini hangu ndakagara ndisingade zanu saka andirwadziwe chazvakanakira mokaura nevamwe ndava akuna ok tm kana pick n pay yezanu
I. I Imi · 6 months ago
Unoda zanu iwe **** yako iwe
Sir African · 6 months ago
Vene doesnt know what the statistical data mean.To him they are just figures.
👀Pindula watch · 6 months ago
Iyo scrutiny ye statistics iyi mudzinga nzara here nekuti hakudariki 1 week kusina statistical analysis on anything deemed Zimbabwean, it's getting so retired and terribly a bore Taurai zvembeu mbesa and or agricultural farm input, scheme to grow drought fool proofs, in a nearby future
bhobhojani bhadhiza · 6 months ago
Zveyedu nyika ndazvishaya nyangwe ukada kuzvidzikisa unozviwana mangwana zvakamira nemubato sechibhorani 😂😂kungozvirega zvichagadzikana hazvo, mvura bvongwe ndiyo garane

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