Zim inflation jumps as Mnangagwa sparks revival hopes

By: 
Crecey Kuyedzwa
Source: 
News20.com

HARARE: Zimbabwe’s November inflation has increased to 2.97%, according to data from the Zimbabwe National Statistics Agency.

This rate is 0.73 of a percentage point higher than the corresponding annual rate of 2.24% in October. 

The consumer price index increased at an average rate of 0.74% from October 2017 to November 2017.

The latest inflation figures come at a time when the new Zimbabwean government, led by Emmerson Mnangagwa, is looking at reviving an economy which has been subdued for several decades.   

The year-on-year food and non-alcoholic beverages inflation, prone to transitory shocks, stood at 5.65% while the non-food inflation rate was 1.74%.

The month-on-month (m/m) food and non-alcoholic beverages inflation rate stood at 1.74% in November 2017, shedding 0.53 percentage points on the October 2017 rate of 2.27. 

The m/m non-food inflation rate stood at 0.26%, shedding 0.94 percentage points on the October 2017 rate of 1.20%. 

The m/m food and non-alcoholic beverages inflation rate stood at 1.74% in November 2017, shedding 0.53 percentage points on the October 2017 rate of 2.27%. The m/m non-food inflation rate stood at 0.26%, shedding 0.94 percentage points on the October 2017 rate of 1.20%. 

The CPI for the month ending November 2017 stood at 98.97, compared to 98.24 in October 2017 and 96.11 in November 2016.

Notable items that have recorded significant gains in November include liquid fuels (23.1%), non-durable household goods (13.98%) and meat (11.01%). 

Also gaining were fish and seafood (10.67%), milk, cheese and eggs (5.65%), oils and fats (6.47%) and vegetables (7.07%). Gas went up 9.85%. 

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