Inflation rate quickens to 10.75 percent

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    Harare – Zimbabwe’s month on month inflation rate rose 1.72 percentage points to 10.75 percent in the month of January, latest figures from the Zimbabwe National Statistics Agency show.

    This was a marginal upturn from the December 2018 figure of 9.03 percent.

    This means that prices as measured by the all items CPI increased by an average of 10.75 percent between December 2018 and January 2019.

    The month on month Food and Non-Alcoholic Beverages inflation rate stood at 6.94 percent in January 2019, shedding 2.13 percentage points on the December 2018 rate of 9.07 percent.

    Month on month non-food inflation rate stood at 12.83 percent, gaining 3.82 percentage points on the December 2018 rate of 9.01 percent.

    Zimstat said year on year inflation rate (annual percentage change) for the month of January 2019 as measured by the all items Consumer Price Index (CPI) stood at 56.90 percent, while that of December 2018 rate was 42.09 percent.

    This means that prices as measured by the all items CPI increased by an average of 56.90 percent between January 2018 and January 2019.

    The year on year Food and Non-Alcoholic beverages inflation prone to transitory shocks stood at 63.71 percent whilst the Non-food inflation rate was 53.60 percent.

    The CPI for the month ending January 2019 stood at 156.56 compared to 141.36 in December 2018 and 99.79 in January 2018.

    Zimbabwe currently uses a basket of currencies dominated by the United States dollar, as well as financial instruments — the bond notes, which are guaranteed by an international financial organisation.

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