Annual inflation cools again

Business Writer

Annual rate of inflation cooled to 268,8 percent in October 2022, from 280 percent in September as measures taken by Government to tame the vice continue to bear fruit.

Data shows that month-on-month inflation was 12,38 percent in August while annual inflation rate stood at 285 percent.

The drop in the annual inflation means that prices as measured by the all items Consumer Price Index (CPI) increased by an average of 268,8 percent between October 2021 and October 2022.

Figures from the Zimbabwe National Statistics Agency (ZIMSTAT) show that the month-on-month inflation rate in October 2022 was 3,2 percent also shedding off 0,3 percentage points on the September 2022 rate of 3,5 percent.

“This means that prices as measured by the all items CPI increased by an average of 3,2 percent from September 2022 to October 2022,” said ZIMSTAT.

The month-on-month food and non-alcoholic beverages inflation rate stood at 3,1 percent in October 2022, gaining 1,4 percentage points on the September 2022 rate of 1,7 percent. The month-on-month non-food inflation rate stood at 3,2 percent, shedding 2 percentage points on the September 2022 rate of 5.2 percent.