Zimbabwe inflation makes surprise u-turn

Zimbabwe inflation makes surprise u-turn
Published: 17 July 2017
Zimbabwe's inflation rate slowed to 0.31 percent year-on-year in June from 0.75 percent in May, data from the national statistics agency showed on Monday.

The June inflation rate took a huge retreat, shedding 0.43 percent, to land at 0.31 percent. Inflation was last that low between March and April 2017. In the month of May, inflation was 0.75 percent.

"The year on year food and non-alcoholic beverages inflation prone to transitory shocks stood at 1.82 percent," Zimstats said.
 
"The month on month food and non-alcoholic beverages inflation rate stood at -0.45 percent in June 2017, shedding 0.52 percentage points on the May 2017 rate of 0.07 percent. The month on month non-food inflation rate stood at -0.14 percent, shedding 0.15 percentage points on the May 2017 rate of 0.01 percent," said Zimstats.

On a month-to-month basis, prices fell by 0.24 percent after increasing 0.03 percent previously, Zimstats said.

The International Monetary Fund has forecast that inflation in Zimbabwe will quicken to 7 percent by December and to 10 percent by the end of next year.

- Bloomberg
Tags: Inflation,

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