Zimbabwe’s inflation accelerates to 230.41 percent in July

Zimbabwe’s inflation accelerates to 230.41 percent in July 1

HARARE – Zimbabwe’s month-on-month inflation rate fell to 21.04 percent in July compared to 32.96 percent the previous month as prices of basic goods increased at a slower pace, statistical agency ZIMSTAT said on Wednesday. Finance Minister Mthuli Ncube on August 1 suspended the publication of year-on-year inflation figures until February 2020 because adoption of a new currency had impacted the base for calculating the consumer price index. Online financial media service platform Equity Access said it had obtained suppressed ZIMSTAT “implied” year-on-year inflation rate, which stood at 230.41 percent…

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Zimbabwe increases fuel price again amid shortages

Zimbabwe increases fuel price again amid shortages 3

By MacDonald Dzirutwe |Reuters| Zimbabwe has increased the price of petrol and diesel by up to 26% after the finance minister raised import tax on fuel last week, adding more pressure on citizens grappling with tripple-digit inflation. Motorists wait to fill up their tanks at a fuel station in Harare, Tuesday, Oct, 9, 2018. As Zimbabwe plunges into its worst economic crisis in a decade, gas lines are snaking for hours, prices are spiking and residents goggle as the new government insists that the country somehow has risen to middle…

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Economy to contract in 2019, Ncube says as inflation figures deferred until 2020

Economy to contract in 2019, Ncube says as inflation figures deferred until 2020 4

HARARE – Zimbabwe’s economy is expected to contract this year due to a drought and severe power cuts, Finance Minister Mthuli Ncube said on Thursday, without providing a figure. The minister had initially forecast the economy to grow 3.1 percent in 2019. Addressing parliament while presenting a mid-term fiscal policy review, Ncube also said Zimbabwe would defer publication of year-on-year inflation until February 2020 following the adoption of a new currency in June. Prices of basic goods and services have more than doubled since June, piling pressure on citizens struggling…

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Zimbabwe’s annual inflation hits 10-year high of 175.66 percent in June

Zimbabwe’s annual inflation hits 10-year high of 175.66 percent in June 6

HARARE – Annual inflation almost doubled to a new 10-year high of 175.66 percent in June, official data showed on Monday, after a sharp rise in prices of basic goods and depreciation of the local currency. Zimbabwe last month made its RTGS currency the sole legal tender and renamed it the Zimbabwe dollar as part of reforms President Emmerson Mnangagwa hopes will revive a failing economy. The hope of Zimbabweans that the economy will quickly recover after Robert Mugabe was removed in an army coup in 2017 is turning to…

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Zimbabwe’s inflation knocks on 100 percent as economic crisis deepens

Zimbabwe’s inflation knocks on 100 percent as economic crisis deepens 8

HARARE – Zimbabwe’s annual inflation raced to 97.85 percent in May from 75.86 percent the previous month, the national statistics agency Zimstats said on Monday. Month-on-month, prices rose 12.54 percent during the same period compared with 5.52 percent in April, Zimstats added. This is the highest inflation figure in over a decade, but economists say the true inflation figures are much higher because Zimstats calculations are based on a limited range of goods. Most Zimbabwean workers have seen their buying power eroded since February when the central bank finally lifted…

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Inflation climbs to 75.86 percent, finance minister Ncube calls for patience

Inflation climbs to 75.86 percent, finance minister Ncube calls for patience 10

HARARE – Zimbabwe’s annual rate of inflation for the month of April 2019 rose to 75.86 percent, up from 66.80 percent in the previous month. Month on month inflation also climbed to 5.52 percent, gaining 1.14 percentage points on the March rate of 4.38 percent, the Zimbabwe National Statistics Agency said Wednesday. Zimbabwe’s annual rate of inflation has been on an upward trend since October last year amid worsening economic conditions characterised by shortages of fuel, power and foreign currency. In its latest review of the economy, Old Mutual said…

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Sudan doctors strike as protests enter fifth day

Sudan doctors strike as protests enter fifth day 12

Fresh anti-government protests have erupted in Sudan as doctors said they would go on strike to increase pressure on President Omar al-Bashir. The demonstrations have been under way for five days An independent group of medics said that from Monday they would focus on treating wounded protesters. On Saturday Sudan’s main opposition leader said security forces had killed 22 demonstrators. Officials say the toll is lower. Protests began on Wednesday after bread and fuel price rises were announced. Related Articles Over the past year, the cost of some goods has…

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