Zimbabwe inflation slows again

Zimbabwe inflation slows again
Published: 15 February 2012 (8136 Views)
Zimbabwe's inflation rate for January this year has declined to 4,3% due to stable economic conditions notwithstanding the rising costs for utility bills.

According to data released by the Zimbabwe National Statistics Agency, the year on year inflation rate for January this year as measured by the all items consumer price index stood at 4,3 %, shedding 0,6 percentage points on the December 2011 rate of 4,9%.

The agency reveals that latest inflation data means that prices increased by an average of 4,3 percentage points between January  2011 and January this year.

Government is targeting average inflation rates of 4, 5% in line with the Medium Term Plan objectives, but economic experts  warn that failure to introduce policies aimed at increasing cash inflows within the economy will hinder efforts to consolidate economic gains.

Research by the central bank shows that inflation which is a measurement of the rate at which prices are increasing might increase on the back of rising global food prices, exchange rate movements between the South African Rand and the United States dollar.

However, it is being anticipated that the projected stability in international oil prices will stabilise prices.

Although the country experienced inflationary pressures between January and December last year, Zimbabwe’s annual headline inflation of 4,9% by December 2011 was the least rate within the SADC region where other regional economies registered  annual inflation rates averaging 9%.

- zbc

Tags: Inflation,
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