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Annual inflation dips

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The Zimbabwe National Statistical Agency said the country’s annual inflation rate fell by 1,2 basic points to 4,1% last month from 5,3% in July last year, showing prices rose at a slower rate during the month compared to last year.
In month-on-month terms, the consumer price index (CPI) remained at -0,1%.
The downtrend would continue to year-end if the country’s inflationary pressures do not increase as a result of excessive imports. The country is set to import inflation through increased imports of maize, wheat, electricity, oil, steel, food and raw materials.
The price of bread is set to rise after the price of flour rose following an 85% surge in the global price of wheat this month.
The country is expected to fork out $180 million in maize imports until the next harvest.

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