Zimbabwe's annual consumer price inflation rose to 86.5% in May 2023, up from 75.2% in April, marking a deviation from the downward trend observed since the beginning of the year. In recent weeks, Zimbabwe has experienced a new wave of price hikes for essential goods, with the government attributing the phenomenon to unscrupulous businesses aligning their pricing with parallel market rates. To combat rising prices, the government has recently eliminated duties and taxes on imported basic goods. On a monthly basis, consumer prices recorded surged 15.7%, the most since July 2022, mainly due to food and non-alcoholic beverages (up 25.9 percent) and health (up 14.8 percent). source: Reserve Bank of Zimbabwe
Inflation Rate in Zimbabwe averaged 65.09 percent from 2009 until 2023, 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 June of 2023.
Inflation Rate in Zimbabwe is expected to be 60.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Zimbabwe Inflation Rate is projected to trend around 30.00 percent in 2024 and 23.00 percent in 2025, according to our econometric models.