Zimbabwe's ZiG inflation slows to 3.2%

Zimbabwe's annual inflation rate in the local Zimbabwe Gold (ZiG) currency slowed to 3.2 percent in July, down from 4.7 percent recorded in June, according to the latest data released by the Zimbabwe National Statistics Agency (ZIMSTAT).

The figures indicate continued price stability in the local currency, with month-on-month ZiG inflation also easing to 0.1 percent in July from 0.6 percent in June.

However, inflation measured in United States dollars showed a slight increase on a monthly basis, rising to 0.3 percent in July from 0.1 percent recorded in June.

Annual inflation in U.S. dollar terms remained unchanged at 3.1 percent.

According to ZIMSTAT, the main drivers of inflation during July were increases in the cost of housing, water, electricity, gas and other fuels.

Despite inflationary pressures experienced in recent months, largely attributed to rising fuel and food prices, monetary authorities remain optimistic that inflation will remain within single digits throughout 2026.

The authorities have attributed the expected stability to the continued implementation of tight monetary and fiscal policies aimed at maintaining price stability and preserving confidence in the economy.