Zimbabwe inflation declines

Zimbabwe inflation declines
Published: 19 November 2013
Zimbabwe's year on year inflation has declined to 0.59 percent, benefiting from the fall of the South African rand against the United States dollar.

Inflationary conditions continue to be on a decline with official data released by the Zimbabwe Statistics Agency (ZIMSTAT) showing that the year on year inflation rate has dropped to 0.59 percent as of October this year from 0.86 percent in September.

The ZIMSTAT says the latest inflation data means that prices increased by 0.59 percent between October 2013 and October last year.

An industrialist, Mr Abel Mubango says the government and private sector should ensure that the drop in inflation translates to increased productivity.

"This should boost productivity in the economy," said Mr Mubango.

Government had earlier this year targeted a five percent inflation rate, but the continuous fall of the South African rand against the US dollar has created stable economic conditions.

- zbc
Tags: Inflation,


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