Zimbabwe Inflation Rate MoM

Zimbabwe's month-on-month inflation rate fell to 17.50 percent in November 2019, its lowest level since May, from 38.75 percent in the previous month. Prices slowed for food & non-alcoholic beverages (22.62 percent vs 48.36 percent in October); housing & utilities (5.85 percent vs 38.65 percent); transport (9.69 percent vs 26.63 percent); miscellaneous goods & services (23.88 percent vs 30.05 percent); alcoholic beverages & tobacco (16.55 percent vs 42.79 percent); furnishings (15.90 percent vs 35.14 percent); recreation & culture (20.58 percent vs 31.77 percent); clothing & footwear (18.35 percent vs 37.16 percent) and health (18.49 percent vs 34.80 percent). Meanwhile, cost increased faster for education (17.10 percent vs 5.45 percent) and communication (13.05 percent vs 9.12 percent).

Zimbabwe's month-on-month inflation rate soared to 38.75 percent in October 2019, its highest level since June, from 17.70 in the previous month. Main upward pressure came from prices of food and non-alcoholic beverages (48.36 percent vs 19.53 percent in September); alcoholic beverages & tobacco (42.79 percent vs 11.01 percent) and housing & utilities (38.65 percent vs 15.50 percent), following the recent hike in electricity tariffs by 320 percent to ramp up power supplies, as the country's hydropower production is being severely hit by worsening drought.

Zimbabwe's month-on-month inflation rate decreased to 17.70 percent in September 2019, its lowest level since May, from 18.07 percent in August. This is the third consecutive month that price growth slowed, mainly due to prices of transport (16.8% vs 32.6% in August). Meanwhile, cost continued to climb for food & non-alcoholic beverages (19.5% vs 18.6%); housing & utilities (15.5% vs 13.7%), amid continued hikes in electricity tariffs to support the indebted power utility ZESA Holdings; clothing & footwear (17.5% vs 10.8%); miscellaneous goods & services (35% vs 18.8%); recreation & culture (18% vs 12.7%) and furnishings (14.7% vs 11.2%). The government has suspended the publication of year-on-year inflation figures until February 2020 following the adoption of a new currency. The Reserve Bank of Zimbabwe hiked its overnight lending rate to 70 percent on September 13th, 2019 and introduced foreign currency savings bonds, to curb rising inflation and support the local currency.

Zimbabwe's month-on-month inflation rate dropped to 18.07 percent in August 2019 from 21.04 percent in July, as prices slowed for food & non-alcoholic beverages (18.6 percent vs 19.9 percent in July) and miscellaneous goods & services (18.8% vs 39.8%). In contrast, cost continued to advance for housing & utilities (13.7% vs 9.1%), amid an increase in electricity tariffs to support the power utility company ZESA Holdings and reduce rolling blackouts in the country. Also, inflation was higher for transport (32.6% vs 26.4%), as prices of petrol and diesel were hiked four times during the month. The government has suspended the publication of year-on-year inflation figures until February 2020 following the adoption of a new currency. The Reserve Bank of Zimbabwe hiked its overnight lending rate to 70 percent on September 13th, 2019, from 50 percent and introduced foreign currency savings bonds, to curb rising inflation and support the local currency.

Zimbabwe's month-on-month inflation rate fell to 21.04 percent in July 2019 from 32.96 percent in the previous month, as prices of basic goods rose at a slower pace. The government has suspended the publication of year-on-year inflation figures until February 2020 following the adoption of a new currency.