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Zimbabwe 12-Month Inflation Eases to 3.6 Percent in October, Up 0.1 Percent Monthly

  • Tatenda Gumbo

The significant decline in year-over-year inflation rate was mainly due to the 0.8 percent surge of October 2009 falling out of the 12-month calculation

Zimbabwean 12-month inflation eased to 3.6 percent in October compared with 4.2 percent in September despite a 0.1 percent monthly rise in the cost of living.

The significant decline in the year-over-year inflation rate was mainly due to the 0.8 percent surge of October 2009 dropping out of the 12-month calculation.

The Zimbabwe National Statistics Agency said the 0.1 percent monthly rise in prices was mainly the result of higher prices for food and non-alcoholic beverages.

Analyst Patrick Smith says the drop from 4.2 to 3.6 percent also reflected the strengthening of the South African rand against the U.S. dollar in recent months.

Smith told VOA reporter Tatenda Gumbo that what the Zimbabwean economy most needs is a return to high levels of production in the key agriculture and mining sectors.

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