adminAccording to the Zimbabwe National Statistics Agency, inflation year-on-year eased from the 4,03 recorded in April.
It said this meant that prices as measured by the all items Consumer Price Index (CPI) increased by an average of 4,02 percentage points between May 2011 and May 2012.
“The year-on-year food and non- alcoholic beverages inflation prone to transitory shocks stood at 4,61 percent while non-food inflation stood at 3,75 percent,” said Zimstat
The month-on-month inflation rate in May 2012 was 0,07, shedding 0,12 percentage points on the April 2012 rate of 0,19 percent.
This means prices increased at an average of 0,07 percent from April 2012 to May 2012.
“The month-on-month food and non alcoholic beverages inflation stood at -0,25 percent in May 2012 shedding 0,39 percentage points on the April 2012 rate of 0,14 percent. The month-on-month non-food inflation stood at 0,21 percent, remaining unchanged on the April 2012 rate of 0,21 percent.”
The CPI for the month ending May 2012 stood at 101,63 compared to 101,56 in April 2012 and 97,71 in May 2011.
Economic commentator Mr Trust Chikohora said the country would end the year with single digit inflation as targeted by Government.
He said inflation rate is unlikely to rise above a single digit because of a tight liquidity situation in the economy.
The Government has projected a 4,5 percent inflation rate by the end of the year.
derick.khumalo