Zim monthly and annual inflation rates spiral
- Staff Writer
ZIMBABWE’ s monthly and annual inflation rates jumped up by a significant margin in the month of March 2020.
According to the Consumer Price Index posted by the Zimbabwe National Statistics Agency (ZIMSTAT) Tuesday, the month on month inflation now stands at 26.59 percent gaming by 13.07 percent from 13.52 percent recorded in the month of February.
The year on year inflation as measured by all CPI rate was at 676.39 up from 540.16 percent recorded in the month of February.
The country’s inflation continues to sustain an upward trajectory against a backdrop of poor industrial productivity and unstable foreign currency exchange market.
The Reserve Bank of Zimbabwe has since levelled the blame on waning local confidence and public perceptions as the main causes driving inflation in the country.