Zim's inflation closes year in the negative

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Harare – Zimbabwe’s annual inflation rate for the month of December 2016, as measured by the all items consumer price index, gained 0.16% to -0.93%, from November’s rate of -1.09%.
 
According to figures released by Zimstats on Tuesday, prices as measured by the all items CPI decreased by an average of -0.93 percentage points between December 2015 and December 2016.
 
This is against government’s projection of an average inflation rate of 1.1%.
 
The month-on-month inflation rate in December 2016 also gained by 0.04% to 0.06%, compared to November’s rate of 0.02%, meaning that prices as measured by the all items CPI increased at an average rate of 0.06% from November 2016 to December 2016.
 
The year-on-year (y/y) food and non-alcoholic beverages inflation prone to transitory shocks stood at -0.95%, with gains noted on bread and cereals, fish and sea food, oils and fats, sugar and other products. Y/y non-food inflation stood at -0.92%.
 
Zimstats said the month-on-month (m/m) food and non-alcoholic beverages inflation rate declined to 0.38% in December 2016, shedding 0.16 percentage points on the November 2016 rate of 0.54%.

The m/m non-food inflation rate however gained 0.13% to -0.09, compared to November 2016’s rate of -0.22%.

Zimbabwe has remained in deflation mode since 2014.

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