Business / Economy
Zimbabwe inflation rate falls again
16 Jun 2011 at 15:03hrs | Views
Bloomberg reports that Zimbabwe's inflation rate fell to 2.5 percent in May from 2.7 percent a month earlier, said Moffat Nyoni, director of the country's statistics agency.
Prices in the month increased 0.1 percent, he said by phone from Harare, the capital, today.
An IMF report released in Washington on June 14 said Zimbabwe may miss its 4 percent inflation target this year because of high fuel costs and rising wages.
"Twelve-month inflation is forecast to reach about 7 percent by December 2011 on account of higher food and fuel prices as well as wage-driven increases in prices for non- tradeables, for example rents and services," the IMF said in the e-mailed report.
Prices in the month increased 0.1 percent, he said by phone from Harare, the capital, today.
"Twelve-month inflation is forecast to reach about 7 percent by December 2011 on account of higher food and fuel prices as well as wage-driven increases in prices for non- tradeables, for example rents and services," the IMF said in the e-mailed report.
Source - Bloomberg
