Business / Economy
Zimbabwe December inflation slows to 3.2 percent
18 Jan 2011 at 20:46hrs | Views
Zimbabwe's annual inflation eased to 3.2 percent for the month of December, down from the November rate of 4.2 percent, the national statistics agency said Tuesday.
"The year-on-year inflation for the month of December 2010 as measured by the all-items Consumer Price Index stood at 3.2 percent, shedding one percentage point on the November rate of 4.2 percent," the Zimbabwe Statistical Agency said in a statement.
The agency attributed the drop to falling prices in the food, transport and communications sectors.
The month-on-month inflation rate in December was -0.4 percent, down from the November rate of 0.5 percent, the agency said.
Zimbabwe's inflation has fallen dramatically in the last two years since the formation of a coalition government that ditched the inflation-ravaged local currency in favour of the US dollar.
The last official estimate of inflation in Zimbabwe dollars in 2008 was 230 million percent, but independent experts said the real figure was in the billions.
"The year-on-year inflation for the month of December 2010 as measured by the all-items Consumer Price Index stood at 3.2 percent, shedding one percentage point on the November rate of 4.2 percent," the Zimbabwe Statistical Agency said in a statement.
The agency attributed the drop to falling prices in the food, transport and communications sectors.
The month-on-month inflation rate in December was -0.4 percent, down from the November rate of 0.5 percent, the agency said.
Zimbabwe's inflation has fallen dramatically in the last two years since the formation of a coalition government that ditched the inflation-ravaged local currency in favour of the US dollar.
The last official estimate of inflation in Zimbabwe dollars in 2008 was 230 million percent, but independent experts said the real figure was in the billions.
Source - Byo24News
