September inflation at 0.78 percent

Harare Bureau
THE country’s annual inflation for September stood at 0.78 percent, gaining 0.64 percent on the August 2017 rate of 0.14 percent, the Zimbabwe National Statistical Agency (ZimStats) announced yesterday.

An ideal annual inflation ranges between two percent to six percent. On a month-on-month basis, the inflation rate gained 0.51 percentage points to 0.38 percent.

“The year-on-year inflation rate (annual percentage change) for the month of September 2017as measured by the all items Consumer Price Index (CPI) stood at 0, 78 percent, gaining 0, 64 percent on the August 2017 rate of 0, 14 percent.

“This means that prices as measured by the all items CPI increased by an average of 0,78 percentage points between September 2016 and September 2017,” said ZimStats. Meanwhile, the year-on-year Food and Non Alcoholic beverages inflation prone to transitory shocks stood at 2,49 percent while the Non-food inflation rate was -0, 01 percent.

The month-on-month inflation rate in September 2017 was 0,38 percent gaining 0,51 percentage points on the August 2017 rate of -0,13 percent.

On the other hand, the month-on-month Food and Non Alcoholic Beverages inflation rate stood at 0,66 percent in September 2017, gaining 1,13 percentage points on the August 2017 rate of -0,47 percent. The month-on-month non-food inflation rate stood at 0,25 percent, gaining 0,22 percentage points on the August 2017 rate of 0,03 percent.

The CPI for September stood at 96,75 compared to 96,39 in August 2017 and 96,01 in September 2016. Zimbabwe’s inflation is in the range (circa 2 percent) that the Government has targeted by year-end.