Zimbabwe inflation rises to 285% in August but monthly inflation drops by more than half

Zimbabwe’s annual inflation which Finance Minister Mthuli Ncube said will continue to rise until September, went up from 257% in July to 285% this month but month-on-month inflation shed 13.2percentage points to end at 12.4%, down from 25.6% in July.

Zimbabwe introduced gold coins on 25 July and hiked interest rates to 200% to curb inflation. It also froze all government payments to suppliers pending a value for money audit.

The poverty datum line for one person rose from $23 479 in July to $26 623 in August.

(143 VIEWS)