Zimbabwe Inflation Rate
June 2023 Data – 2009-2022 Historical – July Forecast
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Zimbabwe’s annual consumer price inflation skyrocketed to 175.8% in June 2023, up from 86.5% in the prior month, marking a continued deviation from the downward trend observed since the beginning of the year.It was the highest reading since January 2021, stoked by a sharp depreciation in the Zimbabwean dollar, which crashed 50% since the start of June in the official market.On a monthly basis, consumer prices jumped by a record 74.5% in June.after a 15.7% rise in the previous month.The Reserve Bank of Zimbabwe bank on June 6 raised its key lending rate by 10 percentage points to 150%, in a bid to tame inflation and protect the country’s weakening currency.
It also announced that the central bank will begin selling foreign currency at market-determined exchange rates through banks, but stopped short of allowing the Zimbabwe dollar to float freely.
source: Reserve Bank of Zimbabwe
Inflation Rate in Zimbabwe averaged 65.77 percent from 2009 until 2023, reaching an all time high of 785.55 percent in May of 2020 and a record low of -7.50 percent in December of 2009.This page provides the latest reported value for – Zimbabwe Inflation Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.Zimbabwe Inflation Rate – data, historical chart, forecasts and calendar of releases – was last updated on July of 2023.
Inflation Rate in Zimbabwe is expected to be 176.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
In the long-term, the Zimbabwe Inflation Rate is projected to trend around 30.00 percent in 2024 and 23.00 percent in 2025, //tradingeconomics.com/embed/?s=zimabweinfnrate&v=202307071627v20230410&h=300&w=600&ref=/zimbabwe/inflation- 05-26
03:10 PM
Inflation Rate YoY
May
86.5%
75.2%
68.0%
2023-06-26
01:00 PM
Inflation Rate YoY
Jun
175.8%
86.5%
90.0%
2023-07-28
12:00 PM
Inflation Rate YoY
Jul
175.8%
200.0%
Related
Last
Previous
Unit
Reference
Inflation Rate
175.80
86.50
percent
Jun 2023
Food Inflation
255.60
117.00
percent
Jun 2023
Inflation Rate MoM
74.50
15.70
percent
Jun 2023
CPI Transportation
257.30
178.90
points
Jun 2023
Zimbabwe Inflation Rate
In Zimbabwe, the most important categories in the Consumer Price Index are: Food & Non-alcoholic Beverages (31%), Housing & Utilities (28%), and Transport (8%).Miscellaneous Goods & Services accounts for 7%, Furniture Household, Equipment & Maintenance (5%), and Alcoholic Beverages & Tobacco (5%).Others include: Clothing & Footwear (4%), Education (4%), Communication (3%), Recreation & Culture (2%), Health (1%), and Restaurants & Hotels (1%).
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
175.80
86.50
785.55
-7.50
2009 – 2023
percent
Monthly
2020M7=100, NSA
Compare
Inflation Rate by Country
News Stream
Zimbabwe Inflation Rate Returns to Triple-Digits in June
Zimbabwe’s annual consumer price inflation skyrocketed to 175.8% in June 2023, up from 86.5% in the prior month, marking a continued deviation from the downward trend observed since the beginning of the year.It was the highest reading since January 2021, stoked by a sharp depreciation in the Zimbabwean dollar, which crashed 50% since the start of June in the official market.On a monthly basis, consumer prices jumped by a record 74.5% in June.after a 15.7% rise in the previous month.
The Reserve Bank of Zimbabwe bank on June 6 raised its key lending rate by 10 percentage points to 150%, in a bid to tame inflation and protect the country’s weakening currency.It also announced that the central bank will begin selling foreign currency at market-determined exchange rates through banks, but stopped short of allowing the Zimbabwe dollar to float freely.
2023-06-26
Zimbabwe Inflation Rate Picks Up in May
Zimbabwe’s annual consumer price inflation rose to 86.5% in May 2023, up from 75.2% in April, marking a deviation from the downward trend observed since the beginning of the year.
In recent weeks, Zimbabwe has experienced a new wave of price hikes for essential goods, with the government attributing the phenomenon to unscrupulous businesses aligning their pricing with parallel market rates.To combat rising prices, the government has recently eliminated duties and taxes on imported basic goods.On a monthly basis, consumer prices recorded surged 15.7%, the most since July 2022, mainly due to food and non-alcoholic beverages (up 25.9 percent) and health (up 14.8 percent).
2023-05-26
Zimbabwe Inflation Rate Drops to 1-Year Low
Zimbabwe’s annual consumer price inflation fell further to a one-year low of 87.6% in March 2023, down from the prior month’s 92.3%.Inflation, which had jumped to a 1-1/2-year high of 285% in August 2022, has been on a downward trend since then.On a monthly basis, consumer prices were up by 0.1%, after decreasing by 1.6% in the previous month, which was the first negative reading since September 2020.The country’s statistics office began referencing the blended consumer price index, which tracks prices in both US and Zimbabwean dollars, rather than the benchmark headline rate that assesses costs in local-currency terms.Meanwhile, a member of the central bank’s monetary policy committee said early in the month that the local-currency inflation rates will continue to “guide” them in setting the benchmark interest rate.
2023-03-27
Related
Zimbabwe Inflation Rate Returns to Triple-Digits in June
Zimbabwe Cuts Key Rate to 150%
Zimbabwe Dollar Depreciates Sharply
Zimbabwe Monthly Inflation Rate at 7-Month Low of 16.55%
Zimbabwe Hikes Gasoline Prices by 47%
Zimbabwe Stocks Plunge for 3rd Day
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