adminBusiness Reporter
Month-on-month inflation rose by 1,3 percent to 0,9 percent in January, reflecting recent food price increases and fuel price hikes.
The annual rate of inflation for January was 0,1 percent on the December rate of 3,2 percent due to a firming South African rand against the United States dollar.
The Zimbabwe National Statistical Agency yesterday said month-on-month food and non-alcoholic beverage inflation stood at 1,08 percent in January.
Month-on-month food and non-alcoholic beverage inflation rose 2,64 percent from the December rate of -1,56 percent, while monthly non-food inflation gained 0,7 percent to 0,76 percent. Food and non-alcoholic beverage inflation stood at 6,7 percent while non-food inflation was 1,99 percent.
Inflation refers to the rate at which prices of goods and services increase over a given period of time, normally a year or month.
According to the Consumer Council of Zimbabwe, retailers raised prices towards the festive season to cash in on 13th cheques and bonuses as well as increments that workers often get at the beginning of the year.
The CCZ recently said an average low-income urban family of six required US$509 in January.
Online Reporter