Zimbabwe’s monthly inflation for October more than doubled to 38.75 percent from the previous month against a background of rising prices of basic goods and services, the Zimbabwe National Statistics Agency (Zimstats) said Friday.

Zimbabwe has been experiencing inflationary pressures amid shortages of cash, foreign currency, fuel and electricity.

Inflation was at 17.7 percent in September 2019.

The sharp rise in October inflation comes after Finance Minister Mthuli Ncube on Thursday projected monthly inflation to fall to single digits in the first quarter of 2020.

He said this while presenting the 2020 national budget in parliament. Enditem


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