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Zimbabwe’s monthly inflation fell in July

Zimbabwe National Statistics Agency on Wednesday said Zimbabwe’s month-on-month inflation fell to 21.04 per cent in July, down from 32.96 per cent in June.

President Mnangagwa

The monthly inflation rate, at 4.4 per cent in March, rose to 5.5 per cent in April, 12.5 per cent in May and then shot up to 32.96 per cent in June.

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Finance minister Mthuli Ncube, on Aug. 1, suspended the publication of annual inflation figures until February 2020 to avoid miscalculation of the country’s inflation.

He said the suspension was done due to the changes in functional currency from the U.S. dollar to Zimbabwe dollar in June.

In June, Zimbabwe’s annual inflation rose to 175.66 per cent, the highest in a decade. (NAN)

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