Zimbabwe’s annual inflation slows

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ZTN Correspondent

Zimbabwe’s annual inflation slowed to 348.59 percent in December, from 401.66% in November, according to latest data from the Zimbabwe National Statistics Agency, Zimstat.

The month on month inflation rate in December 2020 was 2.75 % gaining 0.50 percentage points on the November 2020 rate of 2.25 %.

The year on year inflation rate (annual percentage change) for the month of December 2020 as measured by the all items blended stood at 188.91%.

The blended Consumer Price Index (CPI) for the month ending December 2020 stood at 107.55 compared to 104.67 in November 2020 and 37.23 in December.
Finance Minister Professor Mthuli Ncube had projected that inflation would close the year at 336%.

Prices of goods and services have largely remained stable following on the stable foreign currency exchange rate.

Last year, the Reserve Bank of Zimbabwe introduced a number of measures, among them limiting instant bank transfer amounts, to try and curtail the black market.

The move has largely been successful as the official forex exchange rate has remained stable for a while.