Business BriefsMarkets

Zimbabwe’s inflation slows down

Zimbabwe’s year-on-year inflation rate for the month of August eased to 761,02% from 837,53% reported in July, the Zimbabwe National Statistics Agency (ZimStat) has said.

“The year-on-year inflation rate (annual percentage change) for the month of August 2020 as measured by the all items consumer price index (CPI) stood at 761,02%.

“This means that prices as measured by the all items CPI increased by an average of 761,02% between August 2019 and August 2020,” ZimStat said.

The month-on-month inflation rate in August 2020 was 8,44%, shedding 27,09 percentage points on the July 2020 rate of 35,53 %.

Month-on-month food and non-alcoholic beverages inflation rate stood at 6,30% in August 2020, shedding 31,69 percentage points on the July 2020 rate of 37,99 %.

The month-on-month non-food inflation rate stood at 10,03%, shedding 23,73 percentage points on the July 2020 rate of 33,76 %.

Back to top button