Zimbabwe inflation jumps to 191.6%

Zimbabwe’s annual inflation rose by nearly 60 percentage points to 191.6% in June, according to the national stat statistics agency.

Month-on-month inflation rose by 9.7 percentage points to 30.7%.

United States economist Steve Hanke put Zimbabwe’s inflation at 377% as at 23 June.

Zimbabwe has been battling to control inflation as its local currency continues to plunge against the United States dollar.

The government blames speculators and currency manipulators and several measures that the government has announced to curb inflation have so far failed.

President Emmerson Mnangagwa told the ruling party’s women’s league on Friday that he would announce new measures to contain inflation within 24 hours but he has not done so yet.

The Zimbabwe dollar is currently trading at between $460 and $670 on the black market. It is pegged at $352.0626 at the auction rate and $359.722 at the interbank rate.

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