ZiG Inflation Slows to 19%

 

Zimbabwe’s year-on-year inflation rate, measured in the Zimbabwe Gold currency, continued to ease in November, falling to 19%. 

The latest data indicates that the Reserve Bank of Zimbabwe’s stabilisation measures are gaining traction, with the annual figure dropping below the central bank’s internal December target of 20%.

According to the Zimbabwe National Statistics Agency, the annual inflation rate has decelerated sharply from 32.7% in October and 82.7% in September, marking one of the fastest disinflation periods recorded this year.

However, the report showed a slight uptick in monthly price movements. Month-on-month inflation rose to 0.2%, up from -0.4% in October. The agency attributed the marginal increase to rising costs of basic consumer goods, noting that food and non-alcoholic beverages remain the main drivers of monthly price pressures.

The inflation trend also remains split between local and foreign currency transactions. Prices in US dollars continue to rise at a notably high annual rate of 13.1%, virtually unchanged from October. 

The data indicates that food, beverages, housing, electricity, and fuel are the key contributors to sustained US dollar inflation.