Business / Economy
Zimbabwe's year on year inflation rises to 3.5% from 3.3%
15 Sep 2011 at 13:18hrs | Views
Zimbabwe year on year inflation for the month of August rose to 3,5 percent from the rate of 3,3 percent in July, the Zimbabwe National Statistics Agency announced on Thursday.
"The year on year inflation rate for the month of August 2011 as measured by the all items Consumer Price Index stood at 3,5 percent, gaining 0,2 percentage points on the July 2011 rate of 3,3 percent," ZimStats said in a statement released to the media.
"This means that prices as measured by the all items CPI increased by an average of 3,5 percentage points between August 2010 and August 2011."
ZimStats said the monthly inflation rate for August was 0.1 percent compared to that of 0.3 percent in July.The rise in flation was necessiated by the rise in transport costs, education costs and miscelleneous goods and services.
The introduction of the multiple currency system in the country reduced inflation from the all high over one billion percent during the hyper-inflation days when the country used to use the Zimbabwean dollar.
"The year on year inflation rate for the month of August 2011 as measured by the all items Consumer Price Index stood at 3,5 percent, gaining 0,2 percentage points on the July 2011 rate of 3,3 percent," ZimStats said in a statement released to the media.
ZimStats said the monthly inflation rate for August was 0.1 percent compared to that of 0.3 percent in July.The rise in flation was necessiated by the rise in transport costs, education costs and miscelleneous goods and services.
The introduction of the multiple currency system in the country reduced inflation from the all high over one billion percent during the hyper-inflation days when the country used to use the Zimbabwean dollar.
Source - Byo24News
