Zimbabwe CPI slows to 761.02% year-on-year in August

Zimbabwe’s consumer price inflation slowed to 761.02% year-on-year in August compared to 837.53% the previous month, the statistics agency said on Tuesday.

On a monthly basis, prices increased by 8.44% compared to 35.53% in July.

The ministry of finance has targeted annual inflation at 300% by the end of this year. This now looks achievable considering that the Zimbabwe dollar currency has been firming against the US dollar for three weeks in a row now.

However, some analysts argue that imports of the staple maize after successive poor harvests will keep prices elevated.

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