Zimbabwe’s inflation continued its upward trend in November, with both annual and monthly rates increasing due to rising costs in accommodation, water, electricity and fuel.
The Zimbabwe National Statistics Agency (ZIMSTAT) said on Monday that the annual inflation rose to 21.6 percent in November from the previous month’s 17.8 percent, while the monthly inflation surged to 4.5 percent from 2.5 percent.
“For November 2023, the Consumer Price Index for housing, water, electricity, gas and other fuels contributed the most to the month-on-month change in the inflation rate, followed by food and non-alcoholic beverages,” ZIMSTAT said.
Zimbabwe recently transitioned from using arithmetic aggregation to geometric aggregation to compute weighted price indices. This method change, effective since September, resulted in a notable decrease in annual inflation from 77.2 percent in August to 18.4 percent in September.