/ 14 October 2003

Zim inflation hits 455%

Zimbabwe’s annual inflation rate rose 29 points last month to 455,6% from the August rate of 426,6%, with meat and bread prices rising sharply, official data showed on Tuesday.

The Central Statistical Office said the rise was seen mainly in the average prices of meat, bread, cereals, fruits, vegetables and beverages.

Zimbabwe’s inflation rate has more than doubled from 208,1% in January this year to 455,6% in September. The biggest jump so far this year was in June when inflation shot up from 300,1% to 364,5% in 30 days.

The previous month it had jumped 41 points.

Economists say actual inflation is much higher since some basic consumer goods are available only on the black market where prices are also rising steeply. — Sapa-AFP