Zimbabwe: October inflation at 471%

Zimbabwe: October inflation at 471%

Zimbabwe’s inflation rate eased to 471,25 percent in October year on year, compared with 659,4 percent the previous month, statistical agency Zimbabwe National Statistics Agency (Zimstats) said on Wednesday.

On a monthly basis, prices increased by 4,37 percent gaining 0,54 percentage points on the September rate of 3,83 percent previously.

The Consumer Price Index for the month ending October 2020 stood at 2 301,67 compared to 2 205,24 in September 2020 and 402,92 in October 2019.

Zimstat did not give a reason for the drop in the year-on-year consumer price index, but the national treasury has forecast that the annual inflation rate will fall further because a stabilising exchange rate is easing price pressures.

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