Zimbabwe inflation now lowest in three years

Zimbabwe’s inflation dropped to 1.87 percent year-on-year in June, the lowest in three years, as the country heads for general elections that will usher a new administration following four years of a government of national unity, according to figures released today.

The country had negative inflation during the first year of the inclusive government after dollarisation stabilised the economy which had been in free-fall for almost a decade.

Zimbabwe now has one of the lowest inflation rates not only in Africa but across the globe.

The rate of inflation dropped from 2.2 percent in May.

After the formation of the inclusive government inflation peaked at 6.1 percent in May 2010 and has been on the decline since October last year when it stood at 3.38 percent. It only rose in February to 2.98 percent before resuming its steady decline.

(25 VIEWS)