News / National
Zimbabwe inflation spikes in May
28 May 2023 at 19:05hrs | Views
Zimbabwe's month-on-month inflation spiked to 15,7% this month after gaining 13,3 percentage points on the April 2023 rate of 2,4%, the national statistics agency said yesterday.
On an annualised basis, inflation rose to 86,5% from 75,6% previously.
"The month-on-month inflation rate in May 2023 was 15,7% gaining 13,3 percentage points on the April 2023 rate of 2,4%," Zimbabwe National Statistics director-general Taguma Mahonde announced yesterday in Harare.
"The month-on-month inflation rate is given by the percentage change in the index of the relevant month compared with the index of the previous month. The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the year compared with the index of the same month in the previous year."
On an annualised basis, inflation rose to 86,5% from 75,6% previously.
"The month-on-month inflation rate is given by the percentage change in the index of the relevant month compared with the index of the previous month. The year-on-year inflation rate is given by the percentage change in the index of the relevant month of the year compared with the index of the same month in the previous year."
Source - newsday
