Zim inflation rises to 3, 46pc

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Enacy Mapakame
HARARE – Zimbabwe’s annual rate of inflation – as measured by the all items consumer price index (CPI) – for the month of December 2017 gained 0,49 percentage points to 3,46 percent from November’s 2,97 percent, according to the Zimbabwe National Statistics Agency (ZIMSTAT).

According to Zimstat, this means that prices as measured by the all items CPI increased by an average of 3,46 percent between December 2016 and December 2017. Month on month rate of inflation for December 2017 shed 0,21 percentage points to 0,53 percent from 0,74 percent in November 2017.

“This means that prices as measured by the all items CPI increased at an average rate of 0,53 percent from November 2017 to December 2017,” said Zimstat.

According to the statistics agency, the month on month inflation rate is given by the percentage change in the index of the relevant month of the current year compared with the index of the previous month in the current year.

The year on year food and non-alcoholic beverages inflation prone to transitory shocks stood at 6,6 percent whilst the non-food inflation rate was 2 percent. Month on month, food and non-alcoholic beverages inflation rate stood at 1,29 percent in December 2017, shedding 0,45 percentage points on the November 2017 rate of 1,74 percent.

The month on month food inflation rate stood at 0,16 percent, shedding 0,1 percentage points on the November 2017 rate of 1,26 percent.

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