Chronicle Editor
Sikhulekelani Moyo, Business Reporter
ZIMBABWE’S month-on-month inflation rate for the month of March 2022 has dropped to 6,3 percent, shedding 0,7 percentage points on the February 2022 rate of 7,0 percent.
Inflation generally refers to the “rate of increase in prices over a given period of time” and typically is an indicator of the cost of living in a particular country.
The country’s inflation had been on a decline for most of last year to about 56 percent last July from a post dollarisation record of 837,5 percent.
Official data released by the Zimbabwe Statistics Agency (Zimstat) also indicates that year-on-year inflation rate for March 2022 stood at 72,7 percent.
“The month-on-month inflation rate in March 2022 was 6.3 percent shedding 0,7 percent points on the February 2022 rate of 7,0 percent,” said Zimstat.
“The year-on-year inflation rate for the month of March 2022 as measured by the all-items consumer price index (CPI) stood at 72,7 percent.”
CPI is the general measure of the change in the average retail prices of a market basket or collection of goods and services commonly purchased by the average household.
Generally, the CPI increased reflecting the rise in the average prices of goods and services in the country.
Zimstat said the CPI for the month ending March 2022 stood at $4 766,10 compared to $4 483,06 in February 2022 and $2 759,83 in March 2021.
On the other hand, the blended month-on-month inflation rate in March 2022 was 2,7 percent shedding 0,4 percentage points on the February 2022 rate of 3,1 percent.
“The year-on-year inflation rate (annual percentage change) for the month of March 2022 as measured by all items blended consumer price index stood at 29,8 percent,” said the statistics agency.
“The blended CPI for the month ending March 2022 stood at 146,06 compared to 142,28 in February 2022 and 112,51 in March 2021.”
Meanwhile, the food poverty line for one person in March 2022 was $7 062 and the consumption poverty line for one person stood at $9 708 in March 2022. — @SikhulekelaniM1
Online Reporter