Business Reporter
ZIMBABWE’s monthly inflation has slighlty recovered going down to 5,4% prompted by what market watchers believe to be the positive impact of ongoing silent work of the Reserve Bank of Zimbabwe (RBZ) on the exchange rate front.
Latest data from the Zimbabwe National Statistics Agency (Zimstat) shows that month-on-month inflation rate was 5,4% in February 2024, shedding 1,2% s on the January 2024 rate of 6,6%.
This means that prices increased by an average of 5, 4% between January 2024 and February 2024.
the inflationary trends come at a time when the Reserve Bank of Zimbabwe (RBZ) has been quietly working towards achieving exchange rates equilibrium which has so far seen the interbank rate reaching US$1: ZW$14 912 trailing closely behind the parallel market rate which is now around US$1: ZW$16 000.
Market watchers believe that going forward; both monthly and annual inflation will recede on the back of recovering exchange rate stability.
Yearly inflation in Zimbabwe surged to 47,6% on the back of receding month-on-month inflation, Zimbabwe National Statistics Agency (Zimstat) reported Thursday.
The data presented at an online briefing Thursday shows the year-on-year inflation rate (annual percentage change) for February 2024 as measured by the all-items Consumer Price Index (CPI), was 47,6 %.
The latest upsurge is the fourth in a row since the statistics agency changed its price measure on September 28 to better reflect the use of US dollars in the economy. The greenback is employed in about 80% of transactions in the country.
