Zim’s inflation increases by 0,20 percent

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Charity Ruzvidzo

Zimbabwe’s year-on-year inflation gained 0, 20 percentage points to 2,91 percent in June from the May 2017 rate of 2, 71, official statistics show.

The Zimbabwe National Statistics Agency (Zimstat) revealed that the figures mean prices as measured by the all items CPI increased by an average of 2, 91 percent between June 2017 and June 2018.

“The year-on-year inflation rate (annual percentage change) for the month of June 2018 as measured by the all-items Consumer Price Index (CPI) stood at 2,91 percent, gaining 0,20 percentage points on the May 2018 rate of 2,71 percent,” it said.

The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.

The year-on-year food and non-alcoholic beverages inflation prone to transitory shocks stood at 5,12 percent while the non-food inflation rate was 1, 88 percent.

Zimstat said the month on month inflation rate in June 2018 was -0, 05 percent shedding 0, 08 percentage points on the May2018 rate of 0, 03 percent.

This means that prices as measured by the all items CPI decreased by an average rate of -0.05 percent from May 2018 to June 2018.

“The month on month food and non-alcoholic beverages inflation rate stood at-0.23percent in June 2018, shedding 0, 25 percentage points on the May 2018 rate of 0,02percent. The month on month non-food inflation rate stood at 0, 04 percent, gaining 0, 01 percentage points on the May 2018 rate of 0, 03 percent,” it said.

According to Trade Economics, an international website that provides information on inflation, the annual inflation rate in South Africa fell to 4, 4 percent in May of 2018 from 4, 5 percent in the previous month.

Namibia’s inflation rate increased further to 4 percent in June 2018 from 3, 8 percent in the previous month.

Botswana's annual inflation rate fell to 3, 1 percent in June of 2018 from 3,3 percent in May.

 

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