Zim’s annual inflation marginally up to 2.71pc

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HARARE – Zimbabwe’s annual inflation gained three percentage points to 2, 71 percent in April, the country’s statistical agency said on Tuesday.

The increase reflects a general upward trend in prices of some goods  although most have remained stable in the past few months.

Positive movements in the inflation basket were registered in education, alcoholic beverages and tobacco, clothing and footwear as  well as health.

Month-on-month inflation gained 0, 33 percentage points to  bounce out of the negative zone to close the period at 0, 08 percent.

Authorities say the pace at which the prices of goods and services go up has remained within acceptable levels since the economy emerged out of deflation in February 2017.

The Reserve Bank of Zimbabwe has, however, warned that speculative tendencies will continue to exert pressures on inflation.

Positive domestic and international goodwill after the takeover of a new administration in Zimbabwe last November is also expected to have a mitigatory impact on the country’s inflation going forward. – New Ziana

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