Inflation Hike for Zimbabwe
The Central Statistical Office reported yesterday that Zimbabwe's inflation quickened to 0.6% month on month in June from -1.0% in May.
Zimbabwe’s new unity government, formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai in February, has adopted the use of multiple currencies to stop hyperinflation, which rendered the country’s currency worthless.
The CSO, which resumed calculating inflation figures in December, having last released data for July 2008, did not give year-on-year statistics.
“The month-on-month non-food inflation stood at 1.45%, gaining 2.5 percentage points on the May rate of -1.05%,” the office said.
Zimbabwe’s monthly inflation had been in negative territory since January.
The CSO attributed the increase in inflation to rising prices of alcoholic beverages and non-food items such as transport, health and education.
To read the article titled, “Zimbabwe inflation ticks up,” click here.
Zimbabwe’s new unity government, formed by rivals President Robert Mugabe and Prime Minister Morgan Tsvangirai in February, has adopted the use of multiple currencies to stop hyperinflation, which rendered the country’s currency worthless.
The CSO, which resumed calculating inflation figures in December, having last released data for July 2008, did not give year-on-year statistics.
“The month-on-month non-food inflation stood at 1.45%, gaining 2.5 percentage points on the May rate of -1.05%,” the office said.
Zimbabwe’s monthly inflation had been in negative territory since January.
The CSO attributed the increase in inflation to rising prices of alcoholic beverages and non-food items such as transport, health and education.
To read the article titled, “Zimbabwe inflation ticks up,” click here.
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<br /> The Times
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Inflation Hike for Zimbabwe
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