Zimbabwe’s inflation accelerates to 230.41 percent in July

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 as at July 18.

Annual inflation hit 175.66 percent in June, the highest rate since runaway money-printing and associated hyperinflation forced the country to abandon its currency in 2009.

Source: Zim Live

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