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Zimbabwe Consumer Prices Rise 1 Percent in February But Annual Rate Still Negative


Though prices are generally on the rise, Chief Economist Prosper Chitambara of the Labor and Economic Development Institute of Zimbabwe said the country is doing well compared with others in the Southern African region

Consumer prices in Zimbabwe picked up 1 percent from January to February - but the 12-month rate remained in negative territory at -0.7 percent due to the significant price declines seen in the first part of 2009.

But the flattering effect of early-2009 disinflation is now wearing off month by month - 12-month inflation in January was a negative 4.8 percent.

Though prices are generally on the rise, Chief economist Prosper Chitambara of the Labor and Economic Development Institute of Zimbabwe told VOA Studio 7 reporter Patience Rusere that the country is doing well compared with others in the region.

Businessman and Affirmative Action Group Matabeleland director Sam Ncube told Brenda Moyo that businesses have shown restraint in pricing.

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