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Zimbabwe Consumer Prices Ease Slightly in November After October Uptick


The Statistical Office attributed the price declines in November to the impact of Zimbabwe's hard-currency monetary scheme - the country officially retired the worthless Zimbabwean dollar early this year

Consumer prices in Zimbabwe eased 0.1% in November from October after a rise of 0.8% in October from September, according to the Central Statistical Office, reflecting the impact of the country's monetary regime of multiple hard currencies and stiffer competition by local producers with imports.

Over the most recent three months for which inflation data was provided, the smoothed annualized inflation rate has ranged from 0.8% to 3.6% with positive and negative monthly fluctuations in price levels.

The Statistical Office attributed the price declines in November to the impact of Zimbabwe's hard-currency monetary scheme - the country officially retired the worthless Zimbabwean dollar early this year and businesses and household use the U.S. dollar, South African rand and Botswana pula instead.

Anecdotally, other sources say Zimbabwean manufacturers are stepping up their operations and offering competition on imported staple goods.

Economist Prosper Chitambara of the Labor and Economic Development Institute of Zimbabwe said the country is in a "deflation mode."

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