Zim annualised inflation quickens in June

ZIMBABWE’S annualised inflation for June advanced 0,33 percentage points to – 1,37% as deflationary pressure eases, official statistics have shown.

The food and non-alcoholic beverages deflation rate decreased to 4,04% y-o-y in June, compared with 4,13% y-o-y the previous month. The housing, water, gas & fuels deflation rate decreased to 1,58% y-o-y in June, compared with 2,17% y-o-y the previous month. In turn, the education inflation rate increased to 17,24% y-o-y in June, up from 14,2% y-o-y in the previous month.

According to figures obtained from ZimStats, month on month the inflation rate increased 0,43 percentage points to 0,19%. This comes at a time the economy is facing serious cash shortages on declining exports and foreign direct investment.-Staff Writer