Zimbabwe December inflation eases

Business Top Stories Zimbabwe

Ndaka Majaka

THE prices of basic goods marginally went down in December, with official data showing that the month on month inflation rate last month stood at 16.55 percent, shedding 0.91 percentage points on the November 2019 rate of 17.46 percent.

Figures from the Zimbabwe National Statistics Agency (ZimStat) showed that prices as measured by the Consumer Price Index (CPI) marginally went down as the country’s monthly inflation begins to stabilise.

Finance and Economic Development Minister Professor Mthuli Ncube has aid the country’s inflation is anticipated to close 2020 at two percent, but annual inflation is still estimated in the triple digits.

“The month on month food and non-alcoholic beverages inflation rate stood at 15.75 percent in December 2019, shedding 6.88 percentage points on the November 2019 rate of 22.63 percent.

“The month on month non-food inflation rate stood at 17.14 percent, gaining 3.20 percentage points on the November 2019 rate of 13.94 percent,” ZimStat said.

The Consumer Price Index (CPI) for the month ending December 2019 stood at 551.63 compared to 473.28 in November 2019.