Zimbabwe Inflation Rate

The annual inflation rate in Zimbabwe jumped to 175.66 percent in June 2019 from 97.85 percent in the previous month. It was the highest inflation rate since series began in December 2009, due to a general rise in prices, in particular fuel costs. The Zimbabwe government has hiked fuel prices several times in 2019, starting with a 150 percent increase in January amid persistent fuel shortages and the country's worst economic crisis in a decade. On a monthly basis, consumer prices soared 39.26 percent, also the sharpest advance since at least 2009.

The annual inflation rate in Zimbabwe jumped to 97.85 percent in May of 2019 from 75.86 percent in the previous month. It was the highest inflation rate since series began in December of 2009, due to a general rise in prices, in particular fuel prices which were raised near 50 percent during the month. Headline inflation has been on an upward trend since last October, as Zimbabweans face shortages of food, fuel and foreign currency. On a monthly basis, consumer prices soared 12.5 percent, up from a 5.5 percent gain in the prior month.

The annual inflation rate in Zimbabwe soared to 75.86% in April 2019 from 66.8% in the prior month. Headline inflation has been on an upward trend since October last year amid worsening economic conditions characterised by shortages of fuel, power, food and foreign currency. The reading reflected a generalised rise in prices, as a weakening local currency motivates retailers to peg prices in line with parallel market rates. Prices climbed mostly for food & non-alcoholic beverages (92.4% vs 78.4% in March); housing & utilities (22.9% vs 22.1%); transport (130.2% vs 122.2%); miscellaneous goods & services (82.5% vs 73.9%) and clothing & footwear (115.1% vs 102.7%). On a monthly basis, consumer prices advanced 5.52 percent, up from 4.38 percent in the prior month.

The annual inflation rate in Zimbabwe peaked to 66.8 percent in March 2019 from 59.39 percent in the previous month. It was the highest inflation rate since the hyperinflation was reported in 2009 as the price of food & non-alcoholic beverages increased 78.4 percent (69.8 percent in February). The inflation has been on the upward trend since October as the country run out of dollars due to fiscal indiscipline and a high import bill relative to export receipts. On a monthly basis, consumer prices fell 34.4 percent, following a 1.67 percent rise in February. The Finance minister recently announced that the country would have a "new, fully-fledged currency” within the next 12 months to ease the cash shortages on the market. At the same time, there were reports that most big supermarkets and other retail shops around the country have hiked the prices of basic consumer goods.

The annual inflation rate in Zimbabwe increased to 59.39 percent in February of 2019 from 56.9 percent in January. The inflation hit a new high since at least December of 2009, due to rising prices for basic goods. On a monthly basis, consumer prices went up 1.67 percent, following a 10.75 percent jump in January. The inflation surged in October last year amid a dollar shortage. The central bank governor recently said inflation is seen falling to between 10 and 15 percent by the end of the year.

The annual inflation rate in Zimbabwe climbed to 56.9% in January of 2019 from 42.09% in the prior month. It is the highest inflation rate since at least December of 2009, as prices rose further for basic goods. "The major driver of inflation during 2018 is the pass-through from the parallel exchange rate, which despite stabilising has been gradually feeding into the pricing of goods and services," the minister of Finance Mthuli Ncube said last week in a speech at the Zimbabwe National Defence University. He added that "businesses and individuals who cannot get foreign currency under the central bank's priority list allocation framework resort to buying the hard currency on the black market". The country abandoned its own currency in 2009 in favour of foreign currencies, mainly the US dollar, after it was hit by hyperinflation. On a monthly basis, consumer prices increased 10.75% in January from 9.03% in the prior month.