HARARE-- Zimbabwe's annual rate of inflation has continued to slow down, shedding another 0.3 percentage point in March this year from 2.98 percent in February, the latest figures show.
According to the Zimbabwe Statistics Agency (Zimstat), the country's annual inflation rate stood at 3.52 per cent in January this year. This means that prices as measured by the all-items CPI (Consumer Price Index) increased by an average of 2.68 per cent between March 2017 and March 2018, Zimstat said here Monday.
A marginal drop in prices of meat, rentals and housing among others contributed to the drop in overall annual inflation last month. Month-on-month inflation for March was - 0.25 per cent, having dropped a massive 0.33 percentage point on the February 2018 rate of 0.08 per cent.
Zimbabwe's inflation has, according to monetary authorities, remained within acceptable levels since the economy emerged from deflation in February 2017.
The Reserve Bank of Zimbabwe has, however, warned that speculative and profiteering tendencies and pass-through effects of the parallel market premiums on foreign exchange would continue to exert pressures on inflation.
Besides other major external factors, positive domestic and international goodwill after the takeover of a new administration last November would likely continue to have a mitigation impact on the country's inflation going forward.
Source: NAM NEWS NETWORK