Zimbabwe inflation down to 56.4%

Zimbabwe’s annual inflation dropped by 50 percentage points from 106.6% last month to 56.37% this month.

Month-on-month inflation also dropped by 1.32 percentage point from last month’s 3.88% to 2.56%.

Central bank governor had estimated that inflation for July would drop to 55 %, missing the target by 1.4 percentage points.

United States economist Steve Hanke whose inflation figure for most of this year has been lower than the official one says Zimbabwe inflation on 24 July was 64.2% on 24 July. It was down to 46.2% on 8 July.

The poverty datum line is now at $6 126 while the food poverty datum line is $4 379.

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