Zimbabwe monthly inflation to slow down to 10 percent by December


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Zimbabwe’s month-on-month inflation which peaked at nearly 40percent in June is to slow down to 10 percent by the end of the year, Finance Minister Mthuli Ncube says.

Ncube suspended publication of year-on-year inflation until February next year after it reached 176 percent in June saying the figure was misleading as the change of currency from use of the United States dollar to the Zimbabwe dollar had distorted prices.

He decided to continue with month-on-month inflation. It stood at 10.8 percent in January but slowed down in February, March and April before firming up in May to reach 39.3 percent in June.

It declined to 21 percent in July and 18.1 percent in August.

The figure for September is not yet out.

“With continued implementation of fiscal and monetary policy reforms and other structural policies, inflation on monthly basis is expected to stabilise around 10 percent by end 2019 and at 2.3 percent by end of 2020,” Ncube said in a pre-budget strategy paper according to The Herald.

(58 VIEWS)

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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