Views Article – Sharenet Wealth

Africa, News

Zimbabwe CPI slows to 761.02% year-on-year in August

JOHANNESBURG (Reuters) – Zimbabwe’s consumer price inflation slowed to 761.02% year-on-year in August compared to 837.53% the previous month, the statistics agency said on Tuesday.

On a monthly basis, prices increased by 8.44% compared to 35.53% in July.

The ministry of finance has targeted annual inflation at 300% by the end of this year but analysts say a weakening Zimbabwe dollar currency and imports of the staple maize after successive poor harvests will keep prices elevated.

(Reporting by MacDonald Dzirutwe, Editing by Olivia Kumwenda-Mtambo)

A shopper wears a mask for protection against the spread of coronavirus disease (COVID-19) in a shop in Harare

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.