Zimbabwe inflation rockets to 230.41 percent for July
22 Aug 2019 - by African News Agency
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