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HARARE, Zimbabwe's annual inflation rate slipped by 0.17 percentage point to 0.14 per cent in July this year as liquidity challenges continue to hit consumer spending.

Inflation stood at 0.31 per cent in June and was at 0.75 per cent in May.

This means that prices as measured by the all items CPI (Consumer Price Index) increased by an average of 0.14 percentage point between July 2016 and July 2017, the Zimbabwe National Statistics Agency (Zimstat) said here Wednesday.

Zimstat added that the month-on-month inflation rate in July 2017 was - 0.36 per cent, after falling by 0.12 percentage point from the June rate of -0.24 per cent.

The continued slowdown in spending threatens to take Zimbabwe back into deflation. Zimbabwe only managed to emerge from negative inflation in March this year, having remained stuck in deflation since 2013.

The government had said it was anticipating that inflation would end the year at less than two per cent.

Source: NAM NEWS NETWORK

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