ZIMSTATS indicates inflation has sustained signifi...

ZIMSTATS indicates inflation has sustained significant decline since last survey

Zim Now Writer

Zimbabwe’s annual inflation slowed to 243.8 percent for the period of December sustaining significant declines since the month of November when it was at 255 percent.

According to the Zimbabwe National Statistics Agency’s latest reports the Consumer Price Index for the month December gained at 13, 672 91 compared to 13, 349 4 in November.

“Month-on-month inflation rate in December was 2.4 percent gaining 0.6 percent points on the November 2022 rate of 1.8 percent.

“The year-on-year rate for the month of December as measured by the all-items Consumer Price Index stood at 243.8 percent compared to 255.0 percent in November,” reads the report.

The month-on-month rate is given by the percentage change in the index of the previous month in the current year while the year-on-year-rate 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 same month in the previous year.

The month-on-month Alcoholic beverages and tobacco stood at 2.7 percent while food and non-alcoholic beverages stood at 2.5 percent compared to 0.9 percent in November.

The food poverty line which represents the amount of money that an individual will require to afford the minimum required daily energy intake of 2 100 calories for one person in December was US$22,193.