×
NewsDay

AMH is an independent media house free from political ties or outside influence. We have four newspapers: The Zimbabwe Independent, a business weekly published every Friday, The Standard, a weekly published every Sunday, and Southern and NewsDay, our daily newspapers. Each has an online edition.

Inflation rises to 785.55%

Business
Zimbabwe’s inflation rose to 785.55% on an annualized basis in May, from 765.57% the previous month, the Zimbabwe Statistics Agency said today, laying bare the challenge of a weakening local currency and rising pieces.

Zimbabwe’s inflation rose to 785.55% on an annualized basis in May, from 765.57% the previous month, the Zimbabwe Statistics Agency said today, laying bare the challenge of a weakening local currency and rising pieces.

Business Reporter

Month-on-month, inflation dropped slightly to 15.13% from 17.64% during the same period, Zimstat said.

Since it was introduced as the sole legal tender in June last year, the Zimbabwe dollar has lost around 90% of its value against the United States dollar, leading to fears that it could follow a similar path to its predecessor, which the country abandoned in February 2009 after it was ravaged by hyperinflation.

Zimbabweans are having to contend with rising prices of basic commodities on a daily basis, while purchasing power continues to fall as wages fail to keep pace.