News / National
Zimbabwe's monthly inflation rises by 0,4%
27 Aug 2024 at 08:13hrs | Views
In August 2024, Zimbabwe experienced a monthly inflation rate of 0.4%, up from - 0.1% in July. This increase was attributed to fluctuations in the parallel market exchange rate, which affected local currency prices.
For the US dollar, the inflation rate was 0.2%, also an increase from –0.1% in July. The year-on-year inflation rate for August 2024, based on the all-items USD Consumer Price Index (CPI), was 3.7%.
The Zimbabwean dollar (ZiG) saw a more pronounced rise in inflation, reaching 1.4% month-on-month in August, up from –0.1% in July. This means that, on average, prices increased by 1.4% between July and August 2024.
The Food Poverty Line (FPL) for one person was ZiG 405.41, reflecting the amount needed to meet a daily minimum energy intake of 2,100 calories. The Total Consumption Poverty Line (TCPL) was ZiG 631.86, which includes non-food consumption expenditures.
Regional inflation rates varied, with Mashonaland East having the highest rate at 2%, followed by Mashonaland West and Manicaland at 1.8%. Mashonaland Central had the lowest rate at 0.7%.
For the US dollar, the inflation rate was 0.2%, also an increase from –0.1% in July. The year-on-year inflation rate for August 2024, based on the all-items USD Consumer Price Index (CPI), was 3.7%.
The Food Poverty Line (FPL) for one person was ZiG 405.41, reflecting the amount needed to meet a daily minimum energy intake of 2,100 calories. The Total Consumption Poverty Line (TCPL) was ZiG 631.86, which includes non-food consumption expenditures.
Regional inflation rates varied, with Mashonaland East having the highest rate at 2%, followed by Mashonaland West and Manicaland at 1.8%. Mashonaland Central had the lowest rate at 0.7%.
Source - NewZimbabwe
