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ZiG kills Zimbabwe's inflation
30 Jun 2024 at 13:15hrs | Views
The Zimbabwe Gold (ZiG) has significantly curbed inflation, achieving a zero percent month-on-month inflation rate for June 2024.
Presenting the price statistics, Mr. Aluwisio Mukavhi, the acting director-general of the Zimbabwe National Statistics Agency (ZimStat), explained that this zero percent rate indicates that prices, as measured by the all-items ZiG Consumer Price Index (CPI), remained stable between May and June 2024.
Mr. Mukavhi clarified that the month-on-month inflation rate is determined by the percentage change in the price index of the reference month compared to the previous month. For June 2024, the ZiG CPI for food and non-alcoholic beverages had the lowest contribution to the month-on-month change in index at -0.1 percent, followed by alcoholic beverages and tobacco at -0.02 percent.
Mr. Mukavhi clarified that the month-on-month inflation rate is determined by the percentage change in the price index of the reference month compared to the previous month. For June 2024, the ZiG CPI for food and non-alcoholic beverages had the lowest contribution to the month-on-month change in index at -0.1 percent, followed by alcoholic beverages and tobacco at -0.02 percent.
Source - The Herald
