Zimbabwe’s annual inflation declines to 321 percent in February

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Inflation
Inflation

Zimbabwe’s annual rate of inflation for February declined to 321.59 percent from 362.63 percent in January, the Zimbabwe National Statistics Agency said Thursday.

Monthly inflation stood at 3.45 percent, shedding 1.98 percent points from last month’s 5.43 percent.

Zimbabwe’s inflation has been on a downward trend since August last year following the introduction of a foreign exchange auction trading system that has brought stability to the foreign exchange market.

The central bank announced last week that the country is expected to continue experiencing gradual disinflation until it reaches below 10 percent by December 2021.

Central bank governor John Mangudya said the inflation path will be underpinned by a targeted month-on-month inflation rate of below three percent. Enditem

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