Zimbabwe inflation rockets to 230.41 percent for July

JOHANNESBURG, August 22 (ANA) – Online financial media service platform Equity Access says it has obtained suppressed statistics from Zimbabwe’s statistical agency (Zimstat) which implies that the year-on-year inflation rate stands at 230.41% as of mid-July.

Equity released the figures after Zimbabwe Finance Minister Mthuli Ncube suspended the publication of these figures until February 2020, arguing that adoption of a new currency had impacted the base for calculating the consumer price index, according to Zim Live.

Zimstat said on Wednesday that the country’s month-on-month inflation rate had fallen to 21.04% in July compared to 32.96% the previous month as prices of basic goods had increased at a slower pace.

Annual inflation hit 175.66% in June, the highest rate since runaway money-printing and associated hyperinflation forced the country to abandon its currency in 2009.

-  African News Agency

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