Chronicle Editor
Oliver Kazunga, Senior Business Reporter
ZIMBABWE’S annual inflation for the month of August 2021 declined to 50,24 percent from 56,37 percent last month, official data show.
The country’s rate of annual inflation has recently been falling with fiscal and monetary authorities targeting an inflation rate below 25 percent by year-end.
In a latest update, the Zimbabwe National Statistics Agency (Zimstat) said: “The year-on- year inflation rate (annual percentage change) for the month of August 2021 as measured by the all-items Consumer Price Index (CPI) stood at 50,24 percent.
“This means that prices as measured by the all-items CPI increased by an average of 50,24 percent between August 2020 and August 2021.”
Zimstat also indicated that the month-on-month inflation rate in August 2021 was 4,18 percent, gaining 1,62 percentage points on the July 2021 rate of 2,56 percent.
“This means that prices as measured by the all-items CPI increased by an average rate of 4,18 percent from July 2021 to August 2021,” it said. – @okazunga
Online Reporter