Business / Economy
Zimbabwe year on year inflation down to 2,5 percent
16 Jun 2011 at 21:51hrs | Views
Zimbabwe's year on year inflation has declined to 2,5% from 2,7% in April this year, latest statistics released by the Zimbabwe National Statistical Agency (ZIMSTAT) have revealed.
The official data released by ZIMSTAT revealed that the reduction in the rate of annual inflation means that prices, as measured by the all items consumer price index increased by an average of 2,5% points between May 2010 and May this year.
The information showed that the month on month inflation in May this year remained unchanged at 0,1%, indicating economic stability.
However, an economic analyst Mr. Anymore Taruvinga says inflationary pressures are likely to be experienced in the third quarter of the year due to the sudden increase in prices of goods and basic utilities.
"Inflation pressures are likely to be felt in the third quarter of this year due to sudden increase in the prices of goods and services within the country," said Mr. Taruvinga.
Although inflationary pressures seem to be under control, the Ministry of Finance has been criticised by stakeholders for failure to implement workable policies resulting in Government missing key economic fiscal targets in the first quarter of this year.
The official data released by ZIMSTAT revealed that the reduction in the rate of annual inflation means that prices, as measured by the all items consumer price index increased by an average of 2,5% points between May 2010 and May this year.
The information showed that the month on month inflation in May this year remained unchanged at 0,1%, indicating economic stability.
However, an economic analyst Mr. Anymore Taruvinga says inflationary pressures are likely to be experienced in the third quarter of the year due to the sudden increase in prices of goods and basic utilities.
"Inflation pressures are likely to be felt in the third quarter of this year due to sudden increase in the prices of goods and services within the country," said Mr. Taruvinga.
Although inflationary pressures seem to be under control, the Ministry of Finance has been criticised by stakeholders for failure to implement workable policies resulting in Government missing key economic fiscal targets in the first quarter of this year.
Source - Byo24News
