Zimbabwe annual inflation down to 280.4%, month-on-month to 3.5%


0

Zimbabwe’s annual inflation dropped marginally in September to 280.4% down from 285% in August but month-on-month inflation fell from 12.4% in August to 3.5% this month.

Finance Minister Mthuli Ncube predicted that Zimbabwe inflation would remain high until September and would start declining after that.

Last week he said that month-on-month inflation would drop to 3% by the end of the year and annual inflation to less than 100% next year.

The government has introduced a number of measures to curb inflation and to shore up the local currency. 

The measures include the introduction of gold coins, the hiking of the key interest rate and a clampdown on suppliers who were milking the government by overpricing their goods and services.

(82 VIEWS)


Like it? Share with your friends!

0
Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published. Required fields are marked *