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Business Reporter
The year-on-year inflation rate for the month of February 2016, as measured by the all items Consumer Price Index (CPI), stood at -2,22 percent, shedding 0,03 percentage points on the January 2016 rate of -2,19 percent weighed down by low aggregate demand and the continued weakness of the South African rand.According to released statistics by Zimbabwe National Statistics Agency, prices as measured by the all items CPI, decreased by an average of -2,22 percentage points between February 2015 and February 2016.
The year-on-year food and non-alcoholic beverages inflation prone to transitory shocks stood at -4,04 percent while the non-food inflation rate was -1,35 percent.
The CPI for the month ending February 2016 stood at 96,92 compared to 97,02 in January 2016 and 99,12 in February 2015.
For the month-on-month inflation rate, February 2016 recorded -0,10 percent, shedding 0.05 percentage points on the January 2016 rate of -0,05percent, meaning that prices as measured by the all items CPI decreased at an average rate of -0,10 percent from January 2016 to February 2016.
The month-on-month food and non-alcoholic beverages inflation rate stood at -0,03 percent in February 2016, shedding 0,16 percentage points on the January 2016 rate of 0,13 percent
while the month-on-month non-food inflation rate stood at -0,14 percent, shedding 0,01 percentage points on the January 2016 rate of -0,13 percent.
Online Reporter
Bongani Ndlovu