Zim inflation slows to 4,1%
Zimbabwe's annual inflation rate in July stood at 4,1%, declining from 5,3% the month before, the government statistics agency said on Monday.
Zimbabwe’s annual inflation rate in July stood at 4,1%, declining from 5,3% the month before, the government statistics agency said on Monday.
The Zimbabwe National Statistics Agency said food inflation eased from 7,39% in June to 7,11% last month.
Non-food inflation fell from 4,42% to 2,9%.
A decade of hyperinflation ravaged Zimbabwe’s economy until the formation of a unity government last year and the decision to abandon the local currency in favour of US dollars.
The last official estimate of inflation in Zimbabwe dollars in 2008 was 230-million percent but independent experts said the real figure was in the billions.
Finance Minister Tendai Biti last month said the country’s inflation will continue to slow this year.—Sapa-AFP
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