Zimbabwe deflation worsens to -3.11pct

HARARE,– Zimbabwe’s consumer price index sank further into negative territory in September after shedding 0.34 percentage points on the August rate of -2.77 percent to -3.11 percent,  the national statistics agency said on Thursday.

OKAuthorities have said slowing price increases were a self-correction of the overvalued United States dollar — Zimbabwe’s primary currency since 2009 when it abandoned its inflation-ravaged local unit. However, analysts note that the economy is starved of foreign credit and that the country has no balance of payment support while interest rates that often reach above 20 percent per annum means there is no stimulus for economic activity.

The country has an estimated unemployment rate of over 90 percent while falling household incomes have curtailed expenditure and analysts have warned that the economy could slip into depression this year.

On a month-on-month basis, prices declined by 0.36 percent in September, following a 0.31 percent fall in August, the Zimbabwe National Statistics Agency (Zimstat).

Share this:

Arts & Entertainment

Arts & Entertainment

Damian Marley’s deep love for Africa

24th May 2017 Staff Reporter 0

Damian Marley’s 2010 collaboration album with Nas, Distant Relatives is littered with references to Africa’s rich cultural background. During the recording of the album Marley and Nas dug through archives of African music in search […]

5 Comments on Zimbabwe deflation worsens to -3.11pct

  1. Wonderful beat ! I wish to apprentice while you amend your website, how could i subscribe for a blog web site? The account aided me a acceptable deal. I had been a little bit acquainted of this your broadcast offered bright clear idea

  2. I’m so happy to read this. This is the kind of manual that needs to be given and not the accidental misinformation that’s at the other blogs. Appreciate your sharing this best doc.

  3. This is really interesting, You’re a very skilled blogger. I have joined your feed and look forward to seeking more of your excellent post. Also, I’ve shared your website in my social networks!

Leave a Reply

Your email address will not be published.


*