YEAR-ON-YEAR inflation for the month of August stood at -2,77%, flat on the previous month, as deflationary pressures persist. The figure for August remained the same as in the previous month when rounded to decimal places.
BY VICTORIA MTOMBA
This means prices as measured by all-items Consumer Price Index (CPI) decreased by an average of -2,77% between August 2014 and August 2015, statistical agency Zimstat said on Wednesday.
For the six months of the year to June, inflation figures were negative reaching -2,8% at the end of June, while monthly figures gained 0,05 points to record 0,14% from the May rate of 0,19%.
During the six-month period, major price reductions were noted in food and non-alcoholic beverages, clothing and footwear, housing, water, electricity, gas and other fuels, communication, recreation and culture, restaurants and hotels, and miscellaneous goods and services.
The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.
The year-on-year food and non-alcoholic beverages inflation prone to transitory shocks stood at 3,59% whilst the non-food inflation rate was -2,38%.
“Month-on-month inflation rate in August 2015 was -0,31% shedding 0,36 percentage points on the July 2015 rate of 0,06%. This means that prices as measured by the all-items CPI decreased at an average rate of 0,31% from July 2015 to August 2015,” Zimstat said.
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“The month-on-month food and non-alcoholic beverages inflation rate stood at 0,75% in August 2015, gaining 0,05 percentage points on the July 2015 rate of -0,81%. The month-on-month non-food inflation rate stood at -0,10%, shedding 0,56 percentage points on the July 2015 rate of 0,47%.”
