Zim October inflation up on food prices

HARARE, ZIMBABWE - Nov 25 2009 16:36

Zimbabwe's inflation quickened to 0,8% month-on-month in October from -0,5% in September, pushed up by higher prices for food and non-alcoholic beverages, the Central Statistical Office said on Wednesday.

The agency, which temporarily halted the release of official data when inflation reached 231-million percent in July 2008, currently does not give year-on-year statistics.

Month-on-month non-food inflation rose to 1,03% in October from -0,2% in September, the CSO said.

Zimbabwe's new unity government is trying to rebuild the country after a decade-long crisis which many blame on President Robert Mugabe's policies, but major foreign donors are holding back aid pending far-reaching democratic reforms.

Mugabe (85), and in office since Zimbabwe's independence from Britain in 1980, was forced to share power with his rival, Prime Minister Morgan Tsvangirai, in February after last year's disputed polls.

The economy is starting to look up despite power disputes in the unity government.

The government and the International Monetary Fund project the economy will grow 3,7% this year, and Zimbabwe's Economic Planning Minister has forecast 15% average annual growth between 2010-2015.

Finance Minister Tendai Biti is due to present Zimbabwe's 2010 budget on December 2. -- Reuters

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