April year-on-year inflation up

 

The agency said month-on-month inflation in April was 0.19 percent shedding 0.24 percentage points on the previous month rate of 0.43 percent.

“This means that prices as measured by all items CPI increased at an average of 0.19 percent from March 2012 to April 2012.”

The month-on-month food and non-alcoholic beverages inflation was 0.14 percent shedding 0.66 percentage points on the March rate of 0.80 percent.

Data from the agency also showed that non-alcoholic inflation stood at 0.21 percent shedding 0.05 percentage points while the CPI for last month stood at 101.56 compared to 101.37 in March 2012 and 97.6 in April 2011.

An economist, Mr Peter Mhaka, said inflation rate was expected to increase  following the recent increase in the price of fuel.

“The recent increase in petrol price due to international forces is expected to increase Zimbabwe’s inflation,” he said.

The Government targets an inflation rate of 4.5 percent by the end of the year.