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.

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Zimbabwe Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-26 12:50 PM Apr 75.2% 87.6% 73.0%
2023-05-26 03:10 PM May 86.5% 75.2% 68.0%
2023-06-26 11:00 AM Jun 86.5% 60.0%


Related Last Previous Unit Reference
Inflation Rate 86.50 75.20 percent May 2023
Food Inflation 101.60 127.90 percent Apr 2023
Inflation Rate MoM 15.70 2.40 percent May 2023
CPI Transportation 162.30 158.70 points Apr 2023

Zimbabwe Inflation Rate
In Zimbabwe, the most important categories in the Consumer Price Index are: Food & Non-alcoholic Beverages (31%), Housing & Utilities (28%), and Transport (8%). Miscellaneous Goods & Services accounts for 7%, Furniture Household, Equipment & Maintenance (5%), and Alcoholic Beverages & Tobacco (5%). Others include: Clothing & Footwear (4%), Education (4%), Communication (3%), Recreation & Culture (2%), Health (1%), and Restaurants & Hotels (1%).
Actual Previous Highest Lowest Dates Unit Frequency
86.50 75.20 785.55 -7.50 2009 - 2023 percent Monthly
2020M7=100, NSA

News Stream
Zimbabwe Inflation Rate Picks Up in May
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).
2023-05-26
Zimbabwe Inflation Rate Drops to 1-Year Low
Zimbabwe's annual consumer price inflation fell further to a one-year low of 87.6% in March 2023, down from the prior month's 92.3%. Inflation, which had jumped to a 1-1/2-year high of 285% in August 2022, has been on a downward trend since then. On a monthly basis, consumer prices were up by 0.1%, after decreasing by 1.6% in the previous month, which was the first negative reading since September 2020. The country's statistics office began referencing the blended consumer price index, which tracks prices in both US and Zimbabwean dollars, rather than the benchmark headline rate that assesses costs in local-currency terms. Meanwhile, a member of the central bank’s monetary policy committee said early in the month that the local-currency inflation rates will continue to “guide” them in setting the benchmark interest rate.
2023-03-27
Zimbabwe Inflation Rate Slows to Near 1-Year Low
Zimbabwe's consumer price inflation eased to 92.3% percent year-on-year in February 2023, down from the prior month's 229.8% and moving further away from August's 18-month high of 285%. The annual inflation has been on a downside trend since September 2022, and reached its lowest level since March last year. On a monthly basis, consumer prices fell by 1.6%, the first drop since June 2018, after a 1.1% rise in the previous month. The Reserve Bank of Zimbabwe cut its extraordinarily high policy rate on February 2nd by 50 percentage points to 150% on expectations that a downward trend in inflation will continue. Zimbabwe is now using the blended calculation system for inflation. Governor Mangudya said blended inflation is the most appropriate inflation for the Zimbabwean economy in view of the increased use of foreign currency in domestic transactions within the economy and the high levels of foreign exchange deposits and loans in the banking sector of around 65%.
2023-03-03