Inflation gallops to 256%


ZIMBABWE’S annual inflation has raced to 256,9%, from 191,6% recorded in June, official data shows.

Latest data from the Zimbabwe National Statistics Agency (Zimstat) indicates that a single individual now needs $23, 479 per month to afford basics.

“The month-on-month inflation rate in July 2022 was 25,6% shedding 2,1% percentage points on the June 2022 rate of 30,7%,” Zimstat said.

“The year-on-year inflation rate (annual percentage change) for the month of July 2022 as measured by the all items Consumer Price Index (CPI) stood at 256,9%.”

These figures also mean that the cost of living for a family of six has shot up to $140,874, up from $110 550 recorded last month.

The developments come at a time salaries of the majority of workers in the public and private sector have not kept pace with the inflationary changes.

Most basic commodities are now sold in foreign currency.

But government insists there is no going back on dollarisation.