Chronicle Editor
Business Reporter—
The year-on-year inflation rate for the month of November 2016 stood at -1,09 percent, shedding 0,14 percent on the October 2016 rate of -0,95 percent, as liquidity constraints and a strong dollar maintain downward pressure on prices.This means that prices as measured by the all items Consumer Price Index decreased by an average of -1,09 percent between November 2015 and November 2016.
The year-on-year food and non-alcoholic beverages inflation prone to transitory shocks was -1,54 percent in November while the non-food inflation rate was -0,89 percent.
The month-on-month inflation rate in November 2016 came at 0,02 percent, shedding 0,07 percent on October 2016 rate of 0,09 percent.
This means that prices as measured by the all items CPI increased at an average rate of 0,02 percent from October 2016 to November 2016.
The month-on-month food and non- alcoholic beverages inflation rate stood at 0,54 percent in November 2016, gaining 0,14 percent on the October 2016 rate of 0,40 percent. The month-on-month non-food inflation rate stood at -0,22 percent, shedding 0,17 percent on the October 2016 rate of -0,05 percent.
The CPI for the month ending November 2016 stood at 96,11 compared to 96,10 in October 2016 and 97,18 in November 2015.
Inflation has remained in negative territory for the past few years as the US dollar strengthens against most currencies, especially the rand, and Zimbabwean manufacturers seek market share.
Online Reporter