Inflation in Zimbabwe rockets to 230.41 percent for July
Johannesburg – Online financial media service platform Equity Access says it has obtained suppressed statistics from Zimbabwe’s statistical agency (ZIMSTAT) which implies that year-on-year inflation rate stands at 230.41 percent 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, Zim Live reported.
Zimstat said on Wednesday that the country’s month-on-month inflation rate had fallen to 21.04 percent in July compared to 32.96 percent the previous month as prices of basic goods increased at a slower pace.
Annual inflation hit 175.66 percent in June, the highest rate since runaway money-printing and associated hyperinflation forced the country to abandon its currency in 2009.
African News Agency (ANA)