adminThe Zimbabwe Statistics Agency (Zimstat) said prices as measured by the all items Consumer Price Index (CPI) increased by an average of 4,3 percentage points between February 2011 and February 2012.
Zimstat said year-on-year food and non- alcoholic beverages inflation prone to transitory shocks stood at 5,01 percent while non-food inflation stood at 4,01 percent.
The month-on-month inflation rate in February 2012 gained 0,03 percentage points on the January 2012 rate of 0,46 percent.
This means that prices as measured by the all items CPI increased at an average of 0,49 percent from January 2012 to February 2012.
The month-on-month food and non- alcoholic beverages inflation stood at 0,41 percent in February 2012 remaining unchanged on the January 2012 rate of 0,41 percent.
“The month-on-month non-food inflation stood at 0,48 remaining unchanged on the January 2012 rate of 0,48 percent. The CPI for the month ending February 2012 stood at 100,94 compared to 100,45 in January 2012 and 96,76 in February 2011,” said Zimstat.
The Zimbabwe National Chamber of Commerce immediate past president Mr Trust Chikohora said annual inflation would not have moved mainly because of the liquidity crunch after the festive season.
“Inflation figures have not moved much because of serious liquidity crunch which influences the level of consumer spending and demand. Between January and February spending would be limited, perhaps going on to March liquidity situation is easing after the intervention by Government to address liquidity challenges in the economy. As the year progresses, inflation rate may start to pick up because of the intervention by Government to ease liquidity constraints,” he said.
During and after the festive season, Zimbabwe’s liquidity crisis worsened after financial institutions failed to process bank transfer systems such as Real Time Gross Settlement resulting in companies failing to pay workers on time.
Online Reporter