The annual inflation rate in Zimbabwe eased for the first time in five months to 737.3 percent in June of 2020 from 785.6 percent in the previous month. However, consumer prices surged 31.7 percent from the previous month, the most since last October, after rising 15.1 percent in May. The country's economy has been struggling for years, hit by massive inflation as well as food and fuel shortages. The situation was aggravated by the global pandemic with bankers, nurses, doctors and other health-care professionals recently demanding to be paid in US dollars in a bid to cushion them from soaring inflation and a depreciating currency. Already in June, Finance Minister Mthuli Ncube raised salaries for government workers by 50% in an attempt to stop a nurses'strike at a major government hospital in the capital Harare.
Inflation Rate in Zimbabwe averaged 53.07 percent from 2009 until 2020, reaching an all time high of 785.55 percent in May of 2020 and a record low of -7.50 percent in December of 2009. This page provides the latest reported value for - Zimbabwe Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Zimbabwe Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Inflation Rate in Zimbabwe is expected to be 400.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Zimbabwe to stand at 50.00 in 12 months time. In the long-term, the Zimbabwe Inflation Rate is projected to trend around 18.00 percent in 2021 and 14.00 percent in 2022, according to our econometric models.