Zimbabwe’s annual inflation slows to 3.6%

2010-11-16 10:12

Harare – Zimbabwe’s annual inflation eased to 3.6% for the month of October from the September rate of 4.2%, the government statistics agency has said.

“The year-on-year inflation rate for the month of October 2010 as measured by the all-items consumer price index stood at 3.6%,” said the Zimbabwe National Statistics Agency.

Monthly inflation was 0.2% in October from 0.1% in September, the agency said.

The agency attributed the rise in monthly inflation to higher prices for food and non-alcoholic beverages.

The strengthening of the rand in neighbouring South Africa has pushed up prices in Zimbabwe, which still relies on imports from South Africa as local manufacturers battle to recover from the effects of a decade-long economic crisis.

The agency said a family of five required at least $462 (R3 225) a month to buy food and non-food items.

Most government workers earn an average salary of $200 a month, and unemployment remains high.

Zimbabwe’s inflation has fallen dramatically in the past two years since the formation of a coalition government that offloaded the inflation-ravaged local dollar in favour of the US dollar.

The last official estimate of inflation in Zimbabwe dollars in 2008 was 230 million percent, but independent experts said the real figure was in the billions.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.