HARARE, (The Southern African Times) – Zimbabwe’s annual rate of inflation stood at 51.55 percent in September, slightly up from 50.24 percent recorded the previous month, according to data released by the Zimbabwe National Statistics Agency (ZIMSTAT) on Monday.
Monthly inflation also rose slightly to 4.73 percent, gaining 0.55 percentage points on the August rate of 4.18 percent.
Zimbabwe’s annual rate of inflation has consistently declined from a peak of 837.5 percent in July last year, to a double-digit rate starting in August 2021, following the introduction of tight monetary and fiscal measures by the government.
Among the measures is an introduction by the central bank of a foreign exchange auction trading system that has brought stability to the foreign exchange market.
Despite exogenous global inflation factors, Zimbabwe’s central bank has projected inflationary pressure in the country to remain subdued in the short-to-medium term due to a better agricultural season this year.
It expects annual inflation to close the year at 35 percent.
