NEW: Zim annual inflation declines

Online Reporter

THE country’s annual inflation declined by 14 percentage points from 243,8 percent in December 2022 to 229,8 percent in January this year, according to latest data from the Zimbabwe National Statistics Agency (ZimStat).

“The Zimbabwe dollar year-on-year inflation rate for the month of January 2023 as measured by all-items Consumer Price Index (CPI) stood at 229,8 percent compared to 243,8 percent in December 2022,” said ZimStat.

“The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the same month in the previous year.”

In January, month-on-month inflation stood at 1,1 percent from 2,4 percent in December.

ZimStat also indicated that more people are now using foreign currency in local transactions.

The blended year-on-year inflation rate for January 2023 as measured by the all-items Consumer Price Index (CPI) stood at 101,5 percent.