Chronicle Editor
Business Reporter
THE country’s month-on-month inflation for November and December has remained constant at 5,76 percent, according to the Zimbabwe National Statistics Agency (Zimstat).
In a latest update, the agency also revealed that the country closed the year with an inflation rate of 60,74 percent.
“The month-on-month inflation rate in December as 5,76 percent which was the same for November. The year-on-year inflation rate (annual percentage change) for the month of December as measured by the all-items Consumer Price Index (CPI) stood at 60,74,” said Zimstat.
In November, Finance and Economic Development Minister Professor Mthuli Ncube revised upwards the year-end inflation target to between 52 and 58 percent citing recent inflationary pressures. Minister Ncube had earlier this year predicted that inflation will close the year between 25 and 35 percent after the rate registered a rapid decline this year to hit a two-year low of 50,2 percent in August.
The 25-35 percent range projection was itself a revised target of the initial forecast authorities had made in the year that the inflation would fall below 10 percent by end of the year.
Online Reporter