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THE annual rate of inflation for the month of June stood at minus 1,37 percent, gaining 0,33 percentage points on the May rate of minus 1,69 percent.
The Zimbabwe National Statistical Office said this means that prices of goods and services fell by an average of 1,37 percent in the 12 months to June.
“This means that prices as measured by the all items CPI decreased by an average of -1,37 percentage points between June 2015 and June 2016,” ZimStat said.
Inflation deceleration reflects price correction, weak aggregate demand, tight liquidity and depreciation of the rand against the United States dollar.
The year-on-year food and non-alcoholic beverages rate of inflation prone to transitory shocks stood at minus 4,04 percent in June while the non-food inflation rate was minus 0,09 percent for the period under review.
The month-on-month inflation rate in June 2016 was 0,19 percent gaining 0,43 percentage points in May 2016 rate of minus 0, 24 percent.
“This means that prices as measured by the all items CPI increased at an average rate of 0,19 percent from May 2016 to June 2016,” ZimStat said.
The monthly food and non-alcoholic beverages inflation rate stood at minus 0,35 percent in June, gaining 0,14 percentage points on the May 2016 rate.
The month-on-month non-food inflation rate stood at 0,44 percent, gaining 0,57 percentage points on the May 2016 rate of minus 0,12 percent.
Sustained macro-economic stability, with low inflation levels, continues to provide a conducive environment for enhanced economic activity.
In 2015, the general price level in the economy remained low, with year-on-year inflation opening the year at minus 1,3 percent and reaching minus 3,3 percent by October 2015.
Online Reporter