Zim January inflation spirals to 57%

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iStock

Zimbabwe's year-on-year inflation rate for the month of January 2019 as measured by the all items Consumer Price Index (CPI) stood at 56.90%, up from 42.09% in December 2018, official figures from the Zimbabwe Statistical Agency (Zimstats) have shown.

This means that prices as measured by the all items CPI increased by an average of 56.90% between January 2018 and January 2019.

According to Zimstats, most of the price increases were in non-food items, where the month-on-month inflation stood at 12.83%, gaining 3.82 percentage points on the December 2018 rate of 9.01%.

The month-on-month inflation rate in January 2019 was 10.75%, gaining 1.72 percentage points on the December 2018 rate of 9.03%.

The year-on-year food and non-alcoholic beverages inflation, prone to transitory shocks, stood at 63.71%, while the non-food inflation rate was 53.60%.

According to Zimstats, the inflation data was collected during the period from 17 to 23 January 2019, just after the protests that rocked the country over fuel prices that increased by some150%.

This was followed by price distortions, with transport fares doubling, and in some cases tripling, before government intervened to lower prices.


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