Zimbabwe inflation down to 244% but MOM up

Zimbabwe’s annual inflation dropped by 11 percentage points in December to stand at 243.8% but month-on-month inflation rose from 1.8% in November to 2.4% in December.

Analysts have credited the decline, which started in September, to tight measures introduced by the government in July.

Though the measures also resulted in the local currency stabilising against the United States dollar, the Zimbabwe dollar has started losing ground and is now pegged at between $900 and $1 000.

Surprisingly, the Onemoney rate is pegged at $870 while the Ecocash rate is $950.

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