Tuesday , May 17 2022

Zimbabwe hits 21% in a month of inflation


Business Report

Zimbabwean Statistics (Zimstats) said on Tuesday that inflation in Zimbabwe rose 15.46% year-on-year to 20.85% in October and led to an increase in Zimbabwe. Rising parallel market exchange rates in the last two months.

Reserve Bank of Zimbabwe, John Mangudya, said earlier that inflation is expected to be at 7 per cent on the regional threshold, but the announcement by Zimstats left the experts and economists saying that the economy of Zimbabwe was on the sidelines.

”Consumer Price Index (CPI), the annual inflation rate (annual percentage change) for October 2018, as measured by all items, stood at 20.85 percent and won 15.46 points in September 2018 at 5.39 percent,“ he said. . Zimstats on Tuesday.

In the same period, 18 annual food and non-alcoholic beverages inflation is prone to temporary shocks, while 26.78 percent of non-food inflation is 18.06 percent un.

Tynos Musole, an analyst with experience in the insurance sector, said that at a time when Zimbabwe was opposing the austerity measures, n the panic economy would make the situation worse kemer, n at least we should alleviate interventions that slow down the deceleration rate Sigorta.

Mangudia said inflation rates are between 3 percent and 7 percent. Any inflation above 7 percent will increase demand for wage adjustments. Now we're playing on slippery tracks, de Tweeted Musole.

The October consumer price index for Zimbabwe was 118.73 compared to 101.97 in September 2018 and 98.24 in October 2017.

Other economists discussed the official inflation statistics released by the government and said the annual inflation rate could rise to around 300 percent. Some state workers, such as teachers, began to demand payment in the forex as the economy grew more and more dollar.

The government has been charged with excessive pressure from bonds, which fuel inflation, due to the ongoing weakness under the direction of President Emerson Mnangagwa, who is overdue.

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